Cigna Investments Inc. New Sells 1,971 Shares of Alphabet Inc. $GOOG

Cigna Investments Inc. New decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,070 shares of the information services provider’s stock after selling 1,971 shares during the period. Alphabet accounts for 1.4% of Cigna Investments Inc. New’s portfolio, making the stock its 11th largest position. Cigna Investments Inc. New’s holdings in Alphabet were worth $8,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principia Wealth Advisory LLC increased its stake in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $26,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $32,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total value of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company’s stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 258,088 shares of company stock valued at $52,405,304. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOG. BNP Paribas cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. The Goldman Sachs Group restated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Scotiabank raised their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 22nd. Robert W. Baird raised their price objective on shares of Alphabet from $215.00 to $275.00 and gave the company an “outperform” rating in a research report on Monday. Finally, KeyCorp set a $265.00 price objective on shares of Alphabet in a research report on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $230.35.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $247.83 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $3.00 trillion, a P/E ratio of 26.39, a P/E/G ratio of 1.70 and a beta of 1.01. The firm’s fifty day moving average is $214.14 and its two-hundred day moving average is $183.18. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $256.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

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.