Baxter Bros Inc. Has $28.74 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Baxter Bros Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 150,893 shares of the information services provider’s stock after selling 1,421 shares during the period. Alphabet accounts for approximately 3.8% of Baxter Bros Inc.’s holdings, making the stock its 6th biggest position. Baxter Bros Inc.’s holdings in Alphabet were worth $28,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Weiss Asset Management LP acquired a new position in shares of Alphabet during the third quarter worth approximately $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter valued at $33,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet during the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on GOOG shares. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Morgan Stanley reiterated an “overweight” 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 assigned a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Trading Up 2.2 %

Shares of NASDAQ GOOG opened at $169.93 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $183.93 and a two-hundred day moving average of $178.30. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. The company has a market cap of $2.07 trillion, a PE ratio of 21.11, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is 9.94%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,048 shares of company stock worth $17,374,274. Insiders own 12.99% of the company’s stock.

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.