Fedenia Advisers LLC Has $514,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Fedenia Advisers LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,289 shares of the information services provider’s stock after selling 909 shares during the quarter. Fedenia Advisers LLC’s holdings in Alphabet were worth $514,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at about $5,166,070,000. GAMMA Investing LLC increased its holdings in Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after purchasing an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Alphabet in the fourth quarter worth approximately $1,551,533,000. Northern Trust Corp lifted its stake in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, GQG Partners LLC boosted its holdings in shares of Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GOOG. BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Rosenblatt Securities raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Citizens Jmp raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and six have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.38.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer owned 2,555,196 shares of the company’s stock, valued at $451,452,029.28. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,143 shares of company stock valued at $30,529,028. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.6%

Shares of Alphabet stock opened at $179.76 on Thursday. The company has a market capitalization of $2.18 trillion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. The stock has a fifty day simple moving average of $169.27 and a 200 day simple moving average of $175.84. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the firm earned $1.89 EPS. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, sell-side 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 was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio 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.