Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Walter & Keenan Wealth Management LLC IN ADV

Walter & Keenan Wealth Management LLC IN ADV cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,523 shares of the information services provider's stock after selling 2,729 shares during the quarter. Alphabet accounts for approximately 1.8% of Walter & Keenan Wealth Management LLC IN ADV's investment portfolio, making the stock its 12th largest position. Walter & Keenan Wealth Management LLC IN ADV's holdings in Alphabet were worth $5,967,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LMR Partners LLP purchased a new position in Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet in the fourth quarter worth about $39,000. Denver PWM LLC lifted its position in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after buying an additional 57 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in shares of Alphabet during the third quarter valued at about $66,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 2.7 %

Shares of GOOGL traded down $4.90 during midday trading on Friday, hitting $179.66. The company had a trading volume of 35,094,289 shares, compared to its average volume of 28,166,218. The company's 50-day simple moving average is $192.46 and its 200-day simple moving average is $175.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $2.19 trillion, a P/E ratio of 22.32, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, March 10th. Alphabet's payout ratio is 9.94%.

Insider Buying and Selling

In related news, insider Ruth Porat sold 17,690 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 1,367 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company's stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock worth $25,055,751 over the last 90 days. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Bank of America restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Evercore ISI upped their price objective on shares of Alphabet from $200.00 to $205.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, KeyCorp upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an "overweight" rating in a report on Friday, January 10th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $210.62.

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.