Guinness Atkinson Asset Management Inc Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

Guinness Atkinson Asset Management Inc trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,560 shares of the information services provider’s stock after selling 256 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Alphabet were worth $390,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOG. Cranbrook Wealth Management LLC lifted its holdings in Alphabet by 14.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after buying an additional 70 shares in the last quarter. Manchester Financial Inc. lifted its holdings in Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after buying an additional 74 shares in the last quarter. Atticus Wealth Management LLC lifted its holdings in Alphabet by 1.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after buying an additional 75 shares in the last quarter. Congress Park Capital LLC lifted its holdings in Alphabet by 0.3% during the 4th 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 in the last quarter. Finally, Emerald Advisors LLC lifted its holdings in Alphabet by 0.6% during the 4th 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 in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GOOG. Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus target price of $165.67.

Alphabet Price Performance

GOOG opened at $180.79 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $182.51. The company has a fifty day simple moving average of $172.10 and a 200 day simple moving average of $154.41. The stock has a market cap of $2.23 trillion, a P/E ratio of 27.73, a P/E/G ratio of 1.35 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.17 EPS. On average, research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,458 shares of company stock worth $26,375,053. Corporate insiders own 12.99% of the company’s stock.

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.