Platform Technology Partners Sells 87 Shares of Alphabet Inc. (NASDAQ:GOOG)

Platform Technology Partners lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,662 shares of the information services provider’s stock after selling 87 shares during the quarter. Alphabet accounts for approximately 1.3% of Platform Technology Partners’ portfolio, making the stock its 15th largest holding. Platform Technology Partners’ holdings in Alphabet were worth $4,316,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOG. Dock Street Asset Management Inc. boosted its holdings in shares of Alphabet by 3.3% in the 4th quarter. Dock Street Asset Management Inc. now owns 222,749 shares of the information services provider’s stock worth $42,420,000 after purchasing an additional 7,124 shares in the last quarter. Realta Investment Advisors lifted its position in Alphabet by 3.2% in the 4th quarter. Realta Investment Advisors now owns 31,602 shares of the information services provider’s stock worth $6,103,000 after buying an additional 990 shares during the last quarter. Barrett & Company Inc. purchased a new stake in Alphabet in the fourth quarter worth approximately $1,891,000. Golden State Wealth Management LLC bought a new position in Alphabet during the fourth quarter valued at approximately $1,822,000. Finally, Fairvoy Private Wealth LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $1,029,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. UBS Group upped their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Barclays lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a 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 note on Wednesday, October 30th. Six 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Performance

Shares of Alphabet stock opened at $188.20 on Tuesday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The firm has a market capitalization of $2.30 trillion, a P/E ratio of 23.38, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $193.12 and a two-hundred day simple moving average of $176.14.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is owned by insiders.

Alphabet 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.