AlTi Global Inc. Sells 7,071 Shares of Alphabet Inc. (NASDAQ:GOOG)

AlTi Global Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 92,757 shares of the information services provider's stock after selling 7,071 shares during the quarter. AlTi Global Inc.'s holdings in Alphabet were worth $17,687,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Cantor Fitzgerald reiterated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Needham & Company LLC lowered 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 analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $203.94.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,824 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,815,948.32. This trade represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now owns 272,466 shares in the company, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,824 shares of company stock worth $25,086,603. Company insiders own 12.99% of the company's stock.

Alphabet Stock Up 0.1 %

Alphabet stock traded up $0.24 during mid-day trading on Monday, reaching $166.05. The stock had a trading volume of 15,291,571 shares, compared to its average volume of 19,159,189. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a 50-day moving average price of $162.25 and a two-hundred day moving average price of $177.25. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 20.63, a PEG ratio of 1.34 and a beta of 1.01. 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 released 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. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced 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 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 yield of 0.51%. Alphabet's payout ratio is 9.36%.

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.