Pathstone Holdings LLC Has $163.62 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Pathstone Holdings LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 858,646 shares of the information services provider's stock after selling 37,626 shares during the quarter. Alphabet comprises approximately 0.7% of Pathstone Holdings LLC's portfolio, making the stock its 23rd largest holding. Pathstone Holdings LLC's holdings in Alphabet were worth $163,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GOOG shares. Wedbush reissued an "outperform" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Scotiabank decreased their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. KeyCorp reduced their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $203.94.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 2,824 shares of the firm's stock in a transaction 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 sale, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,815,948.32. This represents a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock valued at $30,153,353 in the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock traded up $2.03 on Friday, reaching $167.43. The stock had a trading volume of 35,833,672 shares, compared to its average volume of 19,733,367. The business's 50-day moving average price is $160.19 and its two-hundred day moving average price is $176.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock has a market cap of $2.03 trillion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current 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 dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. Alphabet's dividend payout ratio is presently 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.