Cigna Investments Inc. New Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

Cigna Investments Inc. New lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,043 shares of the information services provider’s stock after selling 923 shares during the quarter. Alphabet comprises approximately 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tandem Wealth Advisors LLC bought a new position in Alphabet during the third quarter worth $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet in the 4th quarter valued at $26,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter valued at $26,000. Intrepid Capital Management Inc. bought a new stake in Alphabet in the 2nd quarter valued at $31,000. Finally, Buck Wealth Strategies LLC bought a new stake in Alphabet in the 3rd quarter valued at $32,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $146.33.

Alphabet Stock Down 0.4 %

Shares of NASDAQ:GOOG opened at $155.87 on Wednesday. Alphabet Inc. has a 52 week low of $102.38 and a 52 week high of $157.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company’s fifty day moving average is $145.15 and its 200-day moving average is $139.74. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.87, a P/E/G ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the sale, the director now owns 6,784 shares in the company, valued at approximately $973,436.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the transaction, the director now owns 6,784 shares in the company, valued at approximately $973,436.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 228,239 shares of company stock worth $32,432,382. Corporate insiders own 12.99% of the company’s stock.

Alphabet Company 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.