Martin & Co. Inc. TN trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,513 shares of the information services provider's stock after selling 1,855 shares during the quarter. Alphabet comprises approximately 1.9% of Martin & Co. Inc. TN's portfolio, making the stock its 13th largest holding. Martin & Co. Inc. TN's holdings in Alphabet were worth $7,715,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Arlington Trust Co LLC increased its position in shares of Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock worth $2,747,000 after purchasing an additional 52 shares in the last quarter. Harrell Investment Partners LLC increased its position in shares of Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider's stock worth $1,078,000 after purchasing an additional 53 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its position 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 purchasing an additional 54 shares in the last quarter. Tempus Wealth Planning LLC increased its position in shares of Alphabet by 1.7% during the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider's stock worth $636,000 after purchasing an additional 55 shares in the last quarter. Finally, Investment Advisory Group LLC increased its position in shares of Alphabet by 0.7% during the 4th quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider's stock worth $1,463,000 after purchasing an additional 56 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company's stock, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,609 shares of company stock worth $21,809,990. 12.99% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on GOOG. Barclays increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $209.13.
Get Our Latest Stock Report on Alphabet
Alphabet Price Performance
NASDAQ GOOG traded down $5.06 during trading on Friday, hitting $181.58. 19,447,412 shares of the company's stock were exchanged, compared to its average volume of 17,667,480. 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 company has a market cap of $2.21 trillion, a PE ratio of 22.56, a P/E/G ratio of 1.35 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The stock's 50 day moving average price is $194.22 and its two-hundred day moving average price is $177.08.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results 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%. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet's payout ratio is 9.94%.
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.
Featured Articles
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
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
