Gilman Hill Asset Management LLC Has $2.53 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Gilman Hill Asset Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,620 shares of the information services provider’s stock after selling 820 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Alphabet were worth $2,531,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GOOG. Veracity Capital LLC increased its position in Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after acquiring an additional 1,173 shares in the last quarter. Independence Bank of Kentucky raised its stake in shares of Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after buying an additional 1,230 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares during the period. Strategic Blueprint LLC grew its holdings in Alphabet by 36.7% during the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock worth $2,123,000 after acquiring an additional 4,044 shares during the period. Finally, Investment Partners LTD. raised its position in shares of Alphabet by 5.8% during the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after acquiring an additional 410 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 1.6 %

Shares of NASDAQ:GOOG traded up $2.97 during mid-day trading on Tuesday, reaching $183.76. The stock had a trading volume of 8,967,712 shares, compared to its average volume of 21,351,244. The firm has a market cap of $2.27 trillion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. The firm has a 50 day simple moving average of $172.10 and a two-hundred day simple moving average of $154.41. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $184.35.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. On average, research analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 12,084 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now directly owns 48,717 shares in the company, valued at approximately $7,365,523.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 12,084 shares of Alphabet stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the sale, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,458 shares of company stock worth $26,375,053. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on GOOG. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Stifel Nicolaus increased their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus price target of $165.67.

Read Our Latest Stock Analysis on GOOG

Alphabet Company Profile

(Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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