Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,077 shares of the information services provider’s stock after selling 729 shares during the quarter. Alphabet makes up approximately 2.0% of Contravisory Investment Management Inc.’s holdings, making the stock its 15th largest position. Contravisory Investment Management Inc.’s holdings in Alphabet were worth $9,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $25,000. Abich Financial Wealth Management LLC grew its stake in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the third quarter valued at $33,000. HWG Holdings LP bought a new stake in Alphabet in the second quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 over the last three months. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOOG shares. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Oppenheimer lifted their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Performance

NASDAQ:GOOG opened at $197.55 on Friday. The company has a 50-day moving average of $185.56 and a 200-day moving average of $174.84. The firm has a market cap of $2.42 trillion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.