Alphabet Inc. (NASDAQ:GOOG) is Hedeker Wealth LLC’s 9th Largest Position

Hedeker Wealth LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,287 shares of the information services provider’s stock after selling 198 shares during the period. Alphabet accounts for 2.3% of Hedeker Wealth LLC’s holdings, making the stock its 9th biggest position. Hedeker Wealth LLC’s holdings in Alphabet were worth $8,113,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GOOG. Veracity Capital LLC grew its position in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares during the period. Independence Bank of Kentucky grew its position in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares during the period. Park Avenue Securities LLC grew its position in shares of 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 during the period. Strategic Blueprint LLC grew its position in shares of 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 during the period. Finally, Investment Partners LTD. grew its position in shares of 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 during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold 146,288 shares of company stock valued at $25,345,053 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $187.39 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm’s 50-day moving average is $175.47 and its two-hundred day moving average is $156.57. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $187.62. The company has a market capitalization of $2.32 trillion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued 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. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced 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 dividend payout ratio (DPR) is presently 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.