Alphabet Inc. (NASDAQ:GOOGL) Holdings Cut by Mascoma Wealth Management LLC

Mascoma Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,094 shares of the information services provider’s stock after selling 830 shares during the period. Mascoma Wealth Management LLC’s holdings in Alphabet were worth $633,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $30,000. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $49,000. Navigoe LLC acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $51,000. Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $53,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $57,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $179.08 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a fifty day moving average price of $168.36 and a 200 day moving average price of $174.08. The stock has a market cap of $2.17 trillion, a P/E ratio of 19.96, a PEG ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analyst Weigh In

A number of research firms recently commented on GOOGL. Mizuho lowered their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. BMO Capital Markets restated an “outperform” rating and issued a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Wells Fargo & Company lifted their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Stifel Nicolaus decreased their price target on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $189.00 price target on shares of Alphabet in a research report on Wednesday, May 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $199.95.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director directly owned 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 over the last quarter. Company insiders own 11.64% of the company’s stock.

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.