Lummis Asset Management LP Sells 2,712 Shares of Alphabet Inc. (NASDAQ:GOOG)

Lummis Asset Management LP decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,601 shares of the information services provider's stock after selling 2,712 shares during the quarter. Alphabet comprises approximately 4.5% of Lummis Asset Management LP's holdings, making the stock its 6th largest position. Lummis Asset Management LP's holdings in Alphabet were worth $3,542,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Beck Bode LLC lifted its position in shares of Alphabet by 7.1% in the 2nd quarter. Beck Bode LLC now owns 67,523 shares of the information services provider's stock worth $12,385,000 after acquiring an additional 4,456 shares during the period. Merriman Wealth Management LLC lifted its position in Alphabet by 21.3% in the second quarter. Merriman Wealth Management LLC now owns 15,524 shares of the information services provider's stock worth $2,847,000 after purchasing an additional 2,722 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Alphabet by 11.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,144,221 shares of the information services provider's stock worth $209,873,000 after buying an additional 113,916 shares in the last quarter. Circle Wealth Management LLC increased its holdings in Alphabet by 14.9% in the 2nd quarter. Circle Wealth Management LLC now owns 71,983 shares of the information services provider's stock valued at $13,203,000 after buying an additional 9,314 shares during the period. Finally, Frank Rimerman Advisors LLC raised its stake in shares of Alphabet by 8.5% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 153,311 shares of the information services provider's stock valued at $28,120,000 after buying an additional 11,998 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 1,367 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares of the company's stock, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 in the last quarter. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 1.6 %

GOOG stock traded up $3.14 during trading on Monday, hitting $197.55. The company had a trading volume of 21,974,853 shares, compared to its average volume of 16,381,408. The firm has a 50-day moving average price of $185.92 and a 200-day moving average price of $174.76. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $202.88. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.42 trillion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet's dividend payout ratio (DPR) is presently 10.61%.

Analyst Ratings Changes

A number of analysts recently weighed in on GOOG shares. Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Scotiabank initiated coverage on Alphabet in a research report on Friday, October 11th. They set a "sector outperform" rating and a $212.00 target price for the company. Oppenheimer boosted their price target on Alphabet from $185.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, Citizens Jmp lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $200.56.

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.