Alphabet Inc. (NASDAQ:GOOG) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,282 shares of the information services provider’s stock after selling 5,120 shares during the quarter. NewEdge Wealth LLC’s holdings in Alphabet were worth $17,955,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. boosted its holdings in shares of Alphabet by 87.3% in 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. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after purchasing an additional 167 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,309 shares of company stock valued at $25,057,490 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank lifted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Oppenheimer lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Trading Up 1.2 %

NASDAQ:GOOG opened at $172.22 on Friday. The company has a market capitalization of $2.10 trillion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. The stock has a fifty day simple moving average of $192.17 and a 200-day simple moving average of $177.73.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.