Arthur M. Cohen & Associates LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,994 shares of the information services provider's stock after selling 1,513 shares during the period. Alphabet makes up 4.6% of Arthur M. Cohen & Associates LLC's holdings, making the stock its 8th biggest holding. Arthur M. Cohen & Associates LLC's holdings in Alphabet were worth $25,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Redhawk Wealth Advisors Inc. grew its stake in shares of Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider's stock worth $966,000 after acquiring an additional 54 shares in the last quarter. Sunburst Financial Group LLC grew its position in Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider's stock valued at $495,000 after purchasing an additional 60 shares in the last quarter. Johnson Financial Group LLC increased its stake in Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider's stock valued at $395,000 after buying an additional 60 shares during the last quarter. Fortitude Family Office LLC lifted its position in Alphabet by 0.7% during the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider's stock worth $1,585,000 after buying an additional 60 shares in the last quarter. Finally, Phillips Financial Management LLC boosted its stake in shares of Alphabet by 1.6% during the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider's stock worth $644,000 after buying an additional 61 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Up 1.6 %
Shares of Alphabet stock traded up $3.14 on Monday, hitting $197.55. 21,974,853 shares of the company's stock traded hands, compared to its average volume of 16,381,408. The company has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. The company has a fifty day moving average of $185.92 and a two-hundred day moving average of $174.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $131.55 and a one year high of $202.88.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the firm posted $1.55 EPS. The company's quarterly revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet's dividend payout ratio is currently 10.61%.
Insider Transactions at Alphabet
In related news, insider John Kent Walker sold 16,820 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares of the company's stock, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock valued at $24,368,654 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
GOOG has been the topic of several analyst reports. Seaport Res Ptn upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 29th. Citigroup lifted their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Finally, Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $200.56.
View Our Latest Report on GOOG
Alphabet Profile
(
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.
See Also
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
