Fairview Capital Investment Management LLC Sells 8,090 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fairview Capital Investment Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 571,137 shares of the information services provider's stock after selling 8,090 shares during the period. Alphabet accounts for 5.6% of Fairview Capital Investment Management LLC's portfolio, making the stock its 4th largest position. Fairview Capital Investment Management LLC's holdings in Alphabet were worth $108,767,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GOOG. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at about $27,000. LSV Asset Management purchased a new stake in Alphabet during the fourth quarter valued at approximately $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet in the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet during the 4th quarter valued at $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

GOOG traded down $1.37 on Friday, reaching $154.38. The stock had a trading volume of 22,820,181 shares, compared to its average volume of 19,514,663. The business's 50-day moving average price is $160.96 and its two-hundred day moving average price is $176.93. 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 Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a market cap of $1.87 trillion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 EPS. Alphabet's quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.54%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now directly owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,324 shares of company stock valued at $30,153,353. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

GOOG has been the topic of several recent analyst reports. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. The Goldman Sachs Group reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $203.94.

Alphabet Company 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.