Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Clare Market Investments LLC

by · The Markets Daily

Clare Market Investments LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,210 shares of the information services provider’s stock after selling 2,767 shares during the period. Alphabet makes up about 4.2% of Clare Market Investments LLC’s portfolio, making the stock its 4th biggest holding. Clare Market Investments LLC’s holdings in Alphabet were worth $16,124,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in Alphabet by 2.8% during the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock worth $22,470,344,000 after purchasing an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC raised its holdings in Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after acquiring an additional 1,219,606 shares in the last quarter. Capital International Investors raised its holdings in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after acquiring an additional 5,758,244 shares in the last quarter. Northern Trust Corp raised its holdings in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock valued at $7,455,571,000 after acquiring an additional 294,556 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOG. Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

View Our Latest Research Report on Alphabet

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,770 shares of company stock worth $32,036,638 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.0%

Shares of GOOG stock opened at $169.39 on Thursday. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 21.04, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $161.29 and its 200 day simple moving average is $176.14.

Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.

About Alphabet

(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.

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