Alphabet Inc. (NASDAQ:GOOG) Position Reduced by Penbrook Management LLC

Penbrook Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,470 shares of the information services provider’s stock after selling 250 shares during the period. Alphabet accounts for about 2.4% of Penbrook Management LLC’s portfolio, making the stock its 8th largest position. Penbrook Management LLC’s holdings in Alphabet were worth $3,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC increased its position in Alphabet by 13.2% during the 3rd quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock valued at $8,532,000 after purchasing an additional 7,556 shares during the period. Jackson Wealth Management LLC increased its position in Alphabet by 4.6% during the 3rd quarter. Jackson Wealth Management LLC now owns 39,806 shares of the information services provider’s stock valued at $5,248,000 after purchasing an additional 1,735 shares during the period. JS Capital Management LLC increased its position in Alphabet by 164.0% during the 3rd quarter. JS Capital Management LLC now owns 330,000 shares of the information services provider’s stock valued at $43,510,000 after purchasing an additional 205,000 shares during the period. JPMorgan Chase & Co. increased its position in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Finally, Seven Eight Capital LP increased its position in Alphabet by 48.1% during the 3rd quarter. Seven Eight Capital LP now owns 88,776 shares of the information services provider’s stock valued at $11,705,000 after purchasing an additional 28,838 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.1 %

GOOG stock opened at $186.61 on Wednesday. The firm has a 50 day moving average of $174.93 and a 200 day moving average of $156.20. The stock has a market capitalization of $2.31 trillion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. 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 52 week low of $115.83 and a 52 week high of $187.50.

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

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid 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%.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOG. Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,788 shares of company stock worth $21,143,403. Company insiders own 12.99% of the company’s stock.

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.