Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Crestline Management LP

Crestline Management LP decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 87.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,448 shares of the information services provider’s stock after selling 9,652 shares during the period. Crestline Management LP’s holdings in Alphabet were worth $276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,324 shares of company stock valued at $30,153,353. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research reports. Scotiabank lowered their price target on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Citigroup restated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their target price on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Finally, Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $203.94.

Alphabet Trading Down 0.9%

Shares of Alphabet stock opened at $154.38 on Monday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market cap of $1.87 trillion, a PE ratio of 19.18, a P/E/G ratio of 1.34 and a beta of 1.01. The business’s fifty day moving average is $160.96 and its two-hundred day moving average is $177.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate 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%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

About Alphabet

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.