Cladis Investment Advisory LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cladis Investment Advisory LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,955 shares of the information services provider’s stock after selling 100 shares during the period. Cladis Investment Advisory LLC’s holdings in Alphabet were worth $1,325,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the stock. Diligent Investors LLC lifted its position in shares of Alphabet by 13.5% during the fourth quarter. Diligent Investors LLC now owns 3,939 shares of the information services provider’s stock worth $750,000 after purchasing an additional 469 shares during the last quarter. Dorsey Asset Management LLC increased its holdings in shares of Alphabet by 41.5% in the 4th quarter. Dorsey Asset Management LLC now owns 639,218 shares of the information services provider’s stock valued at $121,733,000 after acquiring an additional 187,600 shares during the period. Dunhill Financial LLC raised its holdings in Alphabet by 17.0% in the fourth quarter. Dunhill Financial LLC now owns 12,654 shares of the information services provider’s stock worth $2,410,000 after purchasing an additional 1,838 shares in the last quarter. Eagle Global Advisors LLC lifted its position in Alphabet by 4.5% during the fourth quarter. Eagle Global Advisors LLC now owns 224,471 shares of the information services provider’s stock valued at $42,748,000 after acquiring an additional 9,588 shares during the last quarter. Finally, Collar Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $2,993,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent research reports. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Westpark Capital restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Citigroup restated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.94.

Alphabet Trading Down 7.5 %

GOOG stock opened at $152.82 on Thursday. The business’s 50 day moving average is $161.59 and its 200-day moving average is $177.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm has a market cap of $1.85 trillion, a P/E ratio of 18.98, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the company earned $1.89 EPS. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,824 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,815,948.32. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,824 shares of company stock valued at $25,086,603. 12.99% of the stock is owned by insiders.

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.