Altus Wealth Management LLC Sells 120 Shares of Alphabet Inc. (NASDAQ:GOOG)

Altus Wealth Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 3.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,935 shares of the information services provider’s stock after selling 120 shares during the period. Alphabet comprises approximately 0.2% of Altus Wealth Management LLC’s holdings, making the stock its 25th largest holding. Altus Wealth Management LLC’s holdings in Alphabet were worth $447,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Sound Income Strategies LLC boosted its position in Alphabet by 23.7% in the 1st quarter. Sound Income Strategies LLC now owns 7,900 shares of the information services provider’s stock valued at $1,203,000 after buying an additional 1,515 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. boosted its position in shares of Alphabet by 17.4% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 25,035 shares of the information services provider’s stock worth $3,947,000 after purchasing an additional 3,714 shares during the last quarter. First Bancorp Inc ME boosted its position in shares of Alphabet by 1.4% in the 1st quarter. First Bancorp Inc ME now owns 5,743 shares of the information services provider’s stock worth $874,000 after purchasing an additional 80 shares during the last quarter. Sarasin & Partners LLP boosted its position in shares of Alphabet by 5.7% in the 1st quarter. Sarasin & Partners LLP now owns 126,713 shares of the information services provider’s stock worth $19,293,000 after purchasing an additional 6,784 shares during the last quarter. Finally, DLK Investment Management LLC boosted its position in shares of Alphabet by 1.3% in the 1st quarter. DLK Investment Management LLC now owns 66,616 shares of the information services provider’s stock worth $10,143,000 after purchasing an additional 859 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 146,374 shares of company stock worth $24,548,073 over the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOG. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer raised their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Stock Performance

Alphabet stock traded down $0.21 during midday trading on Wednesday, reaching $185.37. 13,366,791 shares of the company’s stock were exchanged, compared to its average volume of 21,367,336. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $185.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 1.39 and a beta of 1.01. The stock’s 50-day simple moving average is $172.69 and its 200 day simple moving average is $154.76.

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

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders 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 is presently 12.27%.

Alphabet Profile

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.