Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Intermede Investment Partners Ltd

Intermede Investment Partners Ltd trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,211,713 shares of the information services provider's stock after selling 429,991 shares during the period. Alphabet comprises about 6.2% of Intermede Investment Partners Ltd's investment portfolio, making the stock its 3rd biggest position. Intermede Investment Partners Ltd's holdings in Alphabet were worth $230,759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $25,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $33,000. Noble Wealth Management PBC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $43,000. Finally, FPC Investment Advisory Inc. boosted its position in shares of Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider's stock valued at $46,000 after acquiring an additional 167 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company's stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,882 shares of company stock valued at $17,934,130 over the last ninety days. Insiders own 12.99% of the company's stock.

Remove Ads

Alphabet Price Performance

Shares of NASDAQ GOOG traded down $4.27 during trading on Thursday, reaching $164.73. The company had a trading volume of 15,180,371 shares, compared to its average volume of 19,103,002. Alphabet Inc. has a 52 week low of $141.13 and a 52 week high of $208.70. The stock has a market cap of $2.01 trillion, a PE ratio of 20.46, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The business's 50 day moving average price is $187.92 and its 200-day moving average price is $177.92.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet's dividend payout ratio (DPR) is 9.94%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GOOG shares. Benchmark reiterated a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank lifted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Friday, January 24th. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Needham & Company LLC restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.13.

About Alphabet

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.