Cigna Investments Inc. New lifted its holdings in Alphabet Inc (NASDAQ:GOOG) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,009 shares of the information services provider’s stock after purchasing an additional 396 shares during the quarter. Alphabet accounts for approximately 1.5% of Cigna Investments Inc. New’s investment portfolio, making the stock its 6th biggest holding. Cigna Investments Inc. New’s holdings in Alphabet were worth $11,639,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in GOOG. Lighthouse Financial Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter worth $25,000. Cox Capital Mgt LLC bought a new stake in shares of Alphabet in the first quarter worth $27,000. Wealthcare Capital Management LLC lifted its position in shares of Alphabet by 300.0% in the fourth quarter. Wealthcare Capital Management LLC now owns 32 shares of the information services provider’s stock worth $43,000 after purchasing an additional 24 shares in the last quarter. Cedar Mountain Advisors LLC bought a new stake in shares of Alphabet in the fourth quarter worth $43,000. Finally, Cordasco Financial Network raised its position in Alphabet by 32.1% during the first quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after acquiring an additional 9 shares in the last quarter. 33.61% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have issued reports on the stock. Credit Suisse Group dropped their price target on shares of Alphabet from $1,700.00 to $1,500.00 and set an “outperform” rating on the stock in a research report on Monday, April 20th. KeyCorp upped their price target on shares of Alphabet from $1,546.00 to $1,769.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Citigroup upped their price target on shares of Alphabet from $1,500.00 to $1,700.00 and gave the stock a “positive” rating in a research report on Friday, February 7th. Pivotal Research upped their price target on shares of Alphabet from $1,425.00 to $1,575.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Zacks Investment Research lowered shares of Alphabet from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,580.52.
Shares of GOOG stock traded up $7.62 on Friday, hitting $1,410.42. The company’s stock had a trading volume of 1,294,475 shares, compared to its average volume of 1,797,878. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The stock’s 50 day moving average is $1,284.33 and its 200-day moving average is $1,331.95. Alphabet Inc has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,532.11. The company has a market capitalization of $957.58 billion, a PE ratio of 28.46, a PEG ratio of 2.10 and a beta of 1.06.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $11.27 by ($1.40). The business had revenue of $41.16 billion during the quarter, compared to analyst estimates of $40.29 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company posted $9.50 earnings per share. On average, research analysts forecast that Alphabet Inc will post 41.47 earnings per share for the current year.
In other Alphabet news, Director John L. Hennessy sold 60 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the sale, the director now directly owns 592 shares in the company, valued at $807,257.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 30 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $1,328.50, for a total transaction of $39,855.00. Following the sale, the director now owns 1,119 shares in the company, valued at $1,486,591.50. The disclosure for this sale can be found here. Insiders have sold 325 shares of company stock worth $409,753 over the last quarter. Corporate insiders own 12.99% of the company’s stock.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
Featured Article: Risk Tolerance
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.