Hexagon Capital Partners LLC Sells 442 Shares of Alphabet Inc. (NASDAQ:GOOG)

Hexagon Capital Partners LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,021 shares of the information services provider’s stock after selling 442 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Alphabet were worth $765,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Veracity Capital LLC raised its stake in Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after purchasing an additional 1,173 shares in the last quarter. Independence Bank of Kentucky raised its stake in Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares in the last quarter. Park Avenue Securities LLC raised its stake in Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after purchasing an additional 11,646 shares in the last quarter. Strategic Blueprint LLC raised its stake in Alphabet by 36.7% in the fourth quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after purchasing an additional 4,044 shares in the last quarter. Finally, Investment Partners LTD. raised its stake in Alphabet by 5.8% in the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after purchasing an additional 410 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. Stifel Nicolaus boosted 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. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday. Finally, Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $167.86.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on 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 $392,588,151.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,344 shares of company stock worth $23,920,676. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $184.49 on Tuesday. The business’s 50 day simple moving average is $174.40 and its 200 day simple moving average is $155.84. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.50. The stock has a market capitalization of $2.28 trillion, a PE ratio of 28.30, a PEG ratio of 1.38 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15.

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

Alphabet Announces Dividend

The firm also recently declared 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 of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

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.