Bowen Hanes & Co. Inc. Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bowen Hanes & Co. Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 80.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,135 shares of the information services provider's stock after selling 183,485 shares during the period. Bowen Hanes & Co. Inc.'s holdings in Alphabet were worth $8,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. 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 last quarter. Coldstream Capital Management Inc. lifted its holdings in Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock valued at $19,642,000 after acquiring an additional 14,738 shares during the last quarter. Metis Global Partners LLC lifted its holdings in Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider's stock valued at $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Requisite Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $927,000. Finally, Stevens Capital Management LP lifted its holdings in Alphabet by 172.9% in the third 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 last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,882 shares of company stock worth $17,934,130. Corporate insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC restated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush restated an "outperform" rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Oppenheimer upped 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. One 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $209.13.

Alphabet Stock Down 2.5 %

NASDAQ:GOOG traded down $4.27 during trading hours on Thursday, hitting $164.73. The company's stock had a trading volume of 15,180,371 shares, compared to its average volume of 19,103,002. The stock has a market capitalization of $2.01 trillion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock has a fifty day moving average of $187.92 and a 200-day moving average of $177.92. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $141.13 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given 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 is Monday, March 10th. Alphabet's dividend payout ratio (DPR) is currently 9.94%.

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.