ProVise Management Group LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,553 shares of the information services provider's stock after selling 8,516 shares during the quarter. Alphabet makes up 1.2% of ProVise Management Group LLC's portfolio, making the stock its 26th biggest holding. ProVise Management Group LLC's holdings in Alphabet were worth $13,734,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Bennett Selby Investments LP lifted its holdings in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after acquiring an additional 52 shares in the last quarter. Macroview Investment Management LLC raised its position in Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after purchasing an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. lifted its stake in shares of Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock worth $1,864,000 after purchasing an additional 53 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after purchasing an additional 53 shares in the last quarter. Finally, Addison Advisors LLC boosted its position in shares of Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after buying an additional 53 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Buying and Selling
In related news, CAO Amie Thuener O'toole sold 1,368 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company's stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the business's stock in a transaction 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 in the company, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,992 shares of company stock valued at $16,093,773. 11.55% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on the company. Wedbush boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, January 6th. Citigroup reduced their target price on shares of Alphabet from $232.00 to $229.00 and set a "buy" rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their target price on shares of Alphabet from $184.00 to $167.00 and set an "equal weight" rating for the company in a research note on Monday. DA Davidson lifted their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Finally, DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.49.
Read Our Latest Research Report on GOOGL
Alphabet Price Performance
Shares of NASDAQ GOOGL traded up $2.45 during midday trading on Tuesday, reaching $157.09. The company's stock had a trading volume of 18,846,734 shares, compared to its average volume of 30,798,072. Alphabet Inc. has a one year low of $147.21 and a one year high of $207.05. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a 50 day moving average price of $178.83 and a 200 day moving average price of $177.10. 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:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet's dividend payout ratio (DPR) is 9.94%.
Alphabet Company Profile
(
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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