GLOBALT Investments LLC GA Sells 2,752 Shares of Alphabet Inc. (NASDAQ:GOOG)

GLOBALT Investments LLC GA cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 10.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,543 shares of the information services provider’s stock after selling 2,752 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Alphabet were worth $4,484,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GOOG. Sterling Financial Planning Inc. grew its holdings in shares of Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after purchasing an additional 50 shares during the period. Arlington Trust Co LLC boosted its stake in shares of Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after buying an additional 52 shares during the period. Harrell Investment Partners LLC boosted its stake in shares of Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after buying an additional 53 shares during the period. Ethos Financial Group LLC boosted its stake in shares of Alphabet by 0.7% in the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after buying an additional 53 shares during the period. Finally, Redhawk Wealth Advisors Inc. raised its position in shares of Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 1.8 %

Alphabet stock opened at $167.62 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $141.13 and a 1-year high of $208.70. The company has a market cap of $2.04 trillion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock’s 50 day moving average price is $187.41 and its 200 day moving average price is $178.10.

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

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Activity at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock worth $17,374,274 over the last three months. 12.99% of the stock is currently owned by corporate 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.