Western Wealth Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 80.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,774 shares of the information services provider's stock after selling 36,861 shares during the quarter. Western Wealth Management LLC's holdings in Alphabet were worth $1,671,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. FMR LLC increased its holdings in shares of Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock valued at $22,470,344,000 after acquiring an additional 3,189,592 shares during the period. Geode Capital Management LLC increased its holdings in shares of Alphabet by 1.2% in 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 acquiring an additional 1,219,606 shares during the period. Capital International Investors increased its holdings in shares of Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after acquiring an additional 5,758,244 shares during the period. Northern Trust Corp increased its holdings in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors increased its holdings in shares of Alphabet by 0.8% in the 4th 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 acquiring an additional 294,556 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of the business'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 sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. This represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock worth $26,793,380 in the last three months. Corporate insiders own 12.99% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ:GOOG traded down $2.39 on Friday, reaching $169.59. 24,910,508 shares of the company were exchanged, compared to its average volume of 20,117,989. 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 1-year low of $142.66 and a 1-year high of $208.70. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a 50-day moving average of $160.47 and a 200-day moving average of $176.60.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted 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 net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. The business's revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. Alphabet's payout ratio is currently 9.36%.
Analyst Ratings Changes
Several equities analysts have issued reports on GOOG shares. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Scotiabank dropped their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $203.94.
Check Out Our Latest Report on GOOG
About Alphabet
(
Free Report)
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.
Featured Stories
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
