Jupiter Asset Management Ltd. Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Jupiter Asset Management Ltd. decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 618,985 shares of the information services provider's stock after selling 66,678 shares during the period. Alphabet accounts for approximately 1.1% of Jupiter Asset Management Ltd.'s holdings, making the stock its 8th biggest holding. Jupiter Asset Management Ltd.'s holdings in Alphabet were worth $117,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Weiss Asset Management LP bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $33,000. Noble Wealth Management PBC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $43,000. Finally, FPC Investment Advisory Inc. increased its position in shares of Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider's stock valued at $46,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares of the company's stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,682 shares of company stock worth $17,901,024 in the last three months. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Oppenheimer boosted their target price on Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Benchmark reissued a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Morgan Stanley restated an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $209.13.

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Alphabet Price Performance

Shares of GOOG stock opened at $169.00 on Thursday. Alphabet Inc. has a twelve month low of $140.01 and a twelve month high of $208.70. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 20.99, a P/E/G ratio of 1.34 and a beta of 1.03. The stock has a fifty day simple moving average of $188.44 and a two-hundred day simple moving average of $178.02. 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 (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. 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.

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