Westside Investment Management Inc. Sells 269 Shares of Alphabet Inc. (NASDAQ:GOOG)

Westside Investment Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,337 shares of the information services provider’s stock after selling 269 shares during the quarter. Alphabet makes up about 1.3% of Westside Investment Management Inc.’s investment portfolio, making the stock its 17th largest position. Westside Investment Management Inc.’s holdings in Alphabet were worth $6,158,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of GOOG. MBB Public Markets I LLC boosted its position in shares of Alphabet by 3,586.8% during the second quarter. MBB Public Markets I LLC now owns 361,788 shares of the information services provider’s stock worth $66,359,000 after acquiring an additional 351,975 shares during the last quarter. Matrix Private Capital Group LLC boosted its holdings in shares of Alphabet by 6.0% during the 2nd quarter. Matrix Private Capital Group LLC now owns 2,110 shares of the information services provider’s stock valued at $387,000 after purchasing an additional 120 shares during the last quarter. Marathon Capital Management grew its position in shares of Alphabet by 7.1% during the second quarter. Marathon Capital Management now owns 11,320 shares of the information services provider’s stock valued at $2,076,000 after purchasing an additional 755 shares in the last quarter. Lummis Asset Management LP increased its holdings in shares of Alphabet by 0.4% in the second quarter. Lummis Asset Management LP now owns 18,959 shares of the information services provider’s stock worth $3,477,000 after purchasing an additional 76 shares during the last quarter. Finally, Select Equity Group L.P. lifted its position in shares of Alphabet by 1.4% in the second quarter. Select Equity Group L.P. now owns 624,862 shares of the information services provider’s stock worth $114,612,000 after buying an additional 8,807 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. This represents a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 1.2 %

NASDAQ GOOG opened at $201.90 on Friday. The stock has a market cap of $2.47 trillion, a PE ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $203.84. The company’s 50-day moving average price is $187.39 and its 200-day moving average price is $175.23. 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 (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the firm earned $1.55 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOG. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citigroup lifted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $205.13.

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.