Mill Capital Management LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Mill Capital Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,345 shares of the information services provider's stock after selling 13,930 shares during the period. Alphabet makes up about 5.7% of Mill Capital Management LLC's holdings, making the stock its 4th biggest holding. Mill Capital Management LLC's holdings in Alphabet were worth $72,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at $27,000. Weiss Asset Management LP purchased a new stake in Alphabet during the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the third quarter valued at about $33,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GOOG. Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Cantor Fitzgerald reissued a "neutral" rating on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Wedbush reaffirmed an "outperform" rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Finally, Needham & Company LLC reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $209.13.

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Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company's stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Up 1.7 %

Shares of NASDAQ GOOG traded up $2.86 during trading on Tuesday, reaching $172.79. The company had a trading volume of 13,777,238 shares, compared to its average volume of 17,844,933. The business's 50-day moving average is $183.93 and its 200 day moving average is $178.30. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.11 trillion, a PE ratio of 21.46, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $148.20 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released 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%. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's payout ratio is 9.94%.

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.