Rockefeller Capital Management L.P. Has $340.35 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Rockefeller Capital Management L.P. reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,788,619 shares of the information services provider's stock after selling 163,130 shares during the period. Alphabet accounts for 0.9% of Rockefeller Capital Management L.P.'s portfolio, making the stock its 16th largest position. Rockefeller Capital Management L.P.'s holdings in Alphabet were worth $340,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth $27,000. LSV Asset Management bought a new stake in Alphabet during the 4th quarter valued at $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet during the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet in the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet during the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. KeyCorp decreased their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.71.

Alphabet Stock Performance

Shares of GOOG traded down $1.18 during midday trading on Wednesday, reaching $157.50. 6,347,949 shares of the stock were exchanged, compared to its average volume of 21,262,162. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The business's 50-day moving average price is $169.17 and its 200 day moving average price is $177.83. 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 issued its quarterly 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 net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts expect 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 was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 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 dated 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 transaction, the insider now owns 43,111 shares in the company, 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 available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,663 shares of company stock worth $20,286,447. Corporate insiders own 12.99% of the company's stock.

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.