Ironvine Capital Partners LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Ironvine Capital Partners LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,193 shares of the information services provider's stock after selling 2,185 shares during the quarter. Alphabet comprises approximately 6.5% of Ironvine Capital Partners LLC's investment portfolio, making the stock its 3rd biggest position. Ironvine Capital Partners LLC's holdings in Alphabet were worth $60,406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the 4th quarter valued at approximately $27,000. LSV Asset Management bought a new position in Alphabet during the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet in the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 2.7 %

GOOG stock opened at $153.90 on Wednesday. The company has a market capitalization of $1.88 trillion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The firm's fifty day simple moving average is $165.77 and its 200-day simple moving average is $177.32. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. Alphabet's payout ratio is 9.94%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 17,690 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now directly owns 43,111 shares of the company's stock, valued at $7,997,521.61. This represents a 29.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,163 shares of company stock worth $25,361,647. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent research reports. Rosenblatt Securities reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Benchmark reiterated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Oppenheimer increased 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. Finally, Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $208.38.

Alphabet 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.

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