Allegheny Financial Group Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

Allegheny Financial Group reduced its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 14,556 shares of the information services provider's stock after selling 1,654 shares during the quarter. Alphabet makes up about 0.7% of Allegheny Financial Group's portfolio, making the stock its 25th largest holding. Allegheny Financial Group's holdings in Alphabet were worth $2,772,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after buying an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Alphabet by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock valued at $19,894,651,000 after purchasing an additional 1,219,606 shares in the last quarter. Capital International Investors increased its holdings in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the period. Northern Trust Corp grew its position in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. Finally, Capital Research Global Investors raised its stake in Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares of the company's stock, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,824 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at approximately $2,815,948.32. This trade represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,824 shares of company stock worth $25,086,603. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 0.4 %

Shares of Alphabet stock traded down $0.64 on Tuesday, hitting $165.41. 5,920,582 shares of the company's stock traded hands, compared to its average volume of 19,107,124. The firm's 50-day moving average is $162.07 and its 200 day moving average is $177.25. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The stock has a market cap of $2.01 trillion, a P/E ratio of 20.55, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the firm posted $1.89 earnings per share. The business's revenue was up 12.0% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GOOG shares. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday. Finally, Susquehanna reiterated a "positive" rating on shares of Alphabet in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $203.94.

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.