King Luther Capital Management Corp reduced its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,544,922 shares of the information services provider's stock after selling 2,658 shares during the period. Alphabet makes up 2.1% of King Luther Capital Management Corp's holdings, making the stock its 7th biggest position. King Luther Capital Management Corp's holdings in Alphabet were worth $484,655,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Weiss Asset Management LP purchased a new stake in shares of Alphabet in the third quarter valued at about $25,000. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider's stock worth $42,000 after buying an additional 117 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet during the 4th quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Up 1.9 %
NASDAQ:GOOG traded up $3.20 during mid-day trading on Wednesday, hitting $169.18. The stock had a trading volume of 12,287,423 shares, compared to its average volume of 19,015,984. Alphabet Inc. has a twelve month low of $140.01 and a twelve month high of $208.70. The stock has a 50-day simple moving average of $188.87 and a two-hundred day simple moving average of $178.08. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.06 trillion, a PE ratio of 21.00, a PEG ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's payout ratio is currently 9.94%.
Insider Activity
In related news, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company's stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. This represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,182 shares of company stock worth $18,192,354. 12.99% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on GOOG shares. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Wedbush reaffirmed an "outperform" rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Benchmark reissued a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $209.13.
Read Our Latest Stock Analysis 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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