Cercano Management LLC Has $77.23 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Cercano Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 405,558 shares of the information services provider's stock after selling 29,961 shares during the quarter. Alphabet accounts for approximately 2.0% of Cercano Management LLC's investment portfolio, making the stock its 14th largest position. Cercano Management LLC's holdings in Alphabet were worth $77,234,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOG. UBS Group cut their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. KeyCorp cut their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a report on Friday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $203.94.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,824 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction 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 represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,824 shares of company stock worth $25,086,603 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOG opened at $166.05 on Tuesday. The stock has a 50-day moving average of $162.07 and a 200-day moving average of $177.25. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $2.02 trillion, a PE ratio of 20.63, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating 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 firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) 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.

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