Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 28.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 171,675 shares of the information services provider's stock after selling 68,154 shares during the period. Congress Wealth Management LLC DE's holdings in Alphabet were worth $32,694,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GPS Wealth Strategies Group LLC lifted its holdings in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock valued at $3,094,000 after acquiring an additional 1,041 shares during the period. North Forty Two & Co. purchased a new stake in Alphabet during the fourth quarter worth about $281,000. Coldstream Capital Management Inc. grew its position in Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock worth $19,642,000 after buying an additional 14,738 shares during the period. Requisite Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $927,000. Finally, Stevens Capital Management LP lifted its position in shares of Alphabet by 172.9% during the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider's stock valued at $15,254,000 after acquiring an additional 57,810 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

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Alphabet Stock Down 1.8 %

NASDAQ:GOOG traded down $3.06 during mid-day trading on Thursday, reaching $164.08. The stock had a trading volume of 21,538,119 shares, compared to its average volume of 17,866,353. The stock's 50 day simple moving average is $182.36 and its two-hundred day simple moving average is $178.26. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. The company has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

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 (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet's payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOG. Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Friday, January 24th. Cantor Fitzgerald restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Rosenblatt Securities restated a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.13.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 1,368 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,812 shares of company stock valued at $19,336,979. 12.99% of the stock is currently owned by company insiders.

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.