Wittenberg Investment Management Inc. Has $19.46 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Wittenberg Investment Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,176 shares of the information services provider's stock after selling 11,330 shares during the period. Alphabet makes up about 7.7% of Wittenberg Investment Management Inc.'s investment portfolio, making the stock its 4th largest holding. Wittenberg Investment Management Inc.'s holdings in Alphabet were worth $19,458,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock worth $1,843,149,000 after purchasing an additional 264,962 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Alphabet during the third quarter worth approximately $166,000. Portolan Capital Management LLC boosted its stake in shares of Alphabet by 9.4% during the 3rd quarter. Portolan Capital Management LLC now owns 6,754 shares of the information services provider's stock valued at $1,129,000 after buying an additional 583 shares during the period. Rench Wealth Management Inc. grew its stake in Alphabet by 5.7% in the third quarter. Rench Wealth Management Inc. now owns 53,640 shares of the information services provider's stock valued at $8,968,000 after purchasing an additional 2,886 shares in the last quarter. Finally, Redwood Grove Capital LLC acquired a new position in Alphabet in the third quarter worth approximately $20,996,000. Institutional investors and hedge funds own 27.26% of the company's stock.

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Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,297 shares of company stock worth $15,936,270 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Scotiabank raised their target price on Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a report on Friday, January 24th. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark restated a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities restated a "neutral" rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Wedbush reiterated an "outperform" rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $208.65.

Alphabet Trading Down 3.2 %

Shares of NASDAQ:GOOG traded down $4.89 during trading on Friday, hitting $147.74. 39,777,547 shares of the company's stock were exchanged, compared to its average volume of 19,017,938. The firm has a 50-day moving average price of $177.04 and a two-hundred day moving average price of $178.30. The firm has a market cap of $1.80 trillion, a P/E ratio of 18.35, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 1-year low of $146.24 and a 1-year high of $208.70. 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 announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

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.