Alphabet Inc. (NASDAQ:GOOG) Stock Position Cut by Simmons Bank

Simmons Bank trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,698 shares of the information services provider’s stock after selling 4,241 shares during the quarter. Simmons Bank’s holdings in Alphabet were worth $4,326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in GOOG. Cranbrook Wealth Management LLC lifted its stake in shares of Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after acquiring an additional 70 shares during the period. Manchester Financial Inc. lifted its position in shares of Alphabet by 3.6% in the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after purchasing an additional 74 shares during the period. Atticus Wealth Management LLC boosted its stake in shares of Alphabet by 1.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after purchasing an additional 75 shares during the last quarter. Congress Park Capital LLC increased its position in shares of Alphabet by 0.3% during the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after buying an additional 76 shares during the period. Finally, Emerald Advisors LLC raised its stake in Alphabet by 0.6% during the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOG. Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus boosted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $165.67.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock valued at $40,382,765 over the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded up $3.15 during trading on Tuesday, hitting $172.98. 21,087,028 shares of the company were exchanged, compared to its average volume of 22,735,842. Alphabet Inc. has a 52-week low of $105.79 and a 52-week high of $176.42. The stock has a 50 day moving average of $152.74 and a 200 day moving average of $144.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $2.14 trillion, a PE ratio of 26.53, a P/E/G ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the business earned $1.17 earnings per share. Alphabet’s revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 7.66 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

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.