FineMark National Bank & Trust reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 268,049 shares of the information services provider's stock after selling 6,033 shares during the quarter. Alphabet accounts for 1.8% of FineMark National Bank & Trust's portfolio, making the stock its 10th largest position. FineMark National Bank & Trust's holdings in Alphabet were worth $51,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Weiss Asset Management LP bought a new stake in Alphabet during the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. acquired a new position in Alphabet in the fourth quarter worth $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the third quarter worth $33,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet in the fourth quarter valued at $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the fourth quarter valued at about $43,000. 27.26% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Finally, Cantor Fitzgerald reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $209.13.
View Our Latest Analysis on GOOG
Alphabet Stock Down 0.9 %
Shares of GOOG stock traded down $1.56 during trading hours on Thursday, hitting $165.58. 9,697,175 shares of the company were exchanged, compared to its average volume of 17,816,002. Alphabet Inc. has a 52 week low of $148.20 and a 52 week high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $182.96 and a two-hundred day moving average of $178.36. The company has a market capitalization of $2.02 trillion, a PE ratio of 20.53, a PEG ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its 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 anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's payout ratio is presently 9.94%.
Insider Activity at Alphabet
In other news, insider John Kent Walker sold 16,820 shares of the firm's stock in a transaction that occurred on 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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is owned by insiders.
About Alphabet
(
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.
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