Signature Resources Capital Management LLC Sells 563 Shares of Alphabet Inc. (NASDAQ:GOOG)

Signature Resources Capital Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,083 shares of the information services provider’s stock after selling 563 shares during the period. Alphabet comprises about 0.8% of Signature Resources Capital Management LLC’s portfolio, making the stock its 16th largest holding. Signature Resources Capital Management LLC’s holdings in Alphabet were worth $950,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. ARQ Wealth Advisors LLC lifted its stake in shares of Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock worth $945,000 after buying an additional 1,400 shares during the last quarter. Independence Bank of Kentucky raised its stake in Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock worth $2,329,000 after purchasing an additional 1,376 shares in the last quarter. Harvest Investment Services LLC raised its stake in Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after purchasing an additional 138 shares in the last quarter. North Forty Two & Co. acquired a new stake in Alphabet in the 4th quarter worth about $281,000. Finally, Fermata Advisors LLC raised its stake in Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 0.6%

Shares of Alphabet stock opened at $175.88 on Friday. The firm has a market capitalization of $2.13 trillion, a PE ratio of 21.85, a price-to-earnings-growth 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. The firm’s 50 day moving average is $164.57 and its 200 day moving average is $176.30. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.

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

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. 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 0.48%. Alphabet’s payout ratio is 9.36%.

Analysts Set New Price Targets

Several brokerages have weighed in on GOOG. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Susquehanna reiterated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Needham & Company LLC cut shares of Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Finally, Scotiabank dropped their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $204.88.

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.