Cigna Investments Inc. New Has $7.62 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cigna Investments Inc. New reduced its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 54,043 shares of the information services provider’s stock after selling 923 shares during the quarter. Alphabet comprises 1.6% of Cigna Investments Inc. New’s holdings, making the stock its 8th largest holding. Cigna Investments Inc. New’s holdings in Alphabet were worth $7,616,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Financial Advisors Network Inc. increased its holdings in Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after purchasing an additional 7 shares in the last quarter. Turim 21 Investimentos Ltda. increased its holdings in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares in the last quarter. West Michigan Advisors LLC increased its holdings in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after acquiring an additional 9 shares in the last quarter. Somerville Kurt F increased its holdings in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC increased its holdings in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after acquiring an additional 16 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,239 shares of company stock valued at $32,432,382. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.4 %

Shares of Alphabet stock opened at $155.87 on Wednesday. The stock has a fifty day simple moving average of $145.15 and a 200 day simple moving average of $139.74. Alphabet Inc. has a 12-month low of $102.38 and a 12-month high of $157.00. The company has a market capitalization of $1.94 trillion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business’s revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOG. Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $146.33.

View Our Latest Stock Report on Alphabet

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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