180 Wealth Advisors LLC Sells 1,029 Shares of Alphabet Inc. (NASDAQ:GOOG)

180 Wealth Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,125 shares of the information services provider’s stock after selling 1,029 shares during the quarter. Alphabet makes up about 1.0% of 180 Wealth Advisors LLC’s investment portfolio, making the stock its 13th largest position. 180 Wealth Advisors LLC’s holdings in Alphabet were worth $5,805,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Towerpoint Wealth LLC lifted its stake in Alphabet by 44.3% in the first quarter. Towerpoint Wealth LLC now owns 6,777 shares of the information services provider’s stock worth $1,032,000 after acquiring an additional 2,079 shares during the period. Scharf Investments LLC lifted its stake in Alphabet by 4.6% in the first quarter. Scharf Investments LLC now owns 18,266 shares of the information services provider’s stock worth $2,781,000 after acquiring an additional 800 shares during the period. Shulman DeMeo Asset Management LLC lifted its stake in Alphabet by 23.0% in the first quarter. Shulman DeMeo Asset Management LLC now owns 2,673 shares of the information services provider’s stock worth $407,000 after acquiring an additional 500 shares during the period. Prairie Sky Financial Group LLC lifted its stake in Alphabet by 0.9% in the first quarter. Prairie Sky Financial Group LLC now owns 30,391 shares of the information services provider’s stock worth $4,627,000 after acquiring an additional 271 shares during the period. Finally, Colorado Capital Management Inc. purchased a new stake in Alphabet in the first quarter worth about $1,399,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Oppenheimer increased their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. 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. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $167.86.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the 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 transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the 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 transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock valued at $24,534,393 in the last three months. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock traded down $1.61 during midday trading on Friday, hitting $185.25. The company had a trading volume of 4,495,537 shares, compared to its average volume of 21,164,092. The stock has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.47, a PEG ratio of 1.39 and a beta of 1.01. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $173.26 and a 200 day simple moving average of $154.97. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.50.

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

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Alphabet Company 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.