FineMark National Bank & Trust Sells 6,033 Shares of Alphabet Inc. (NASDAQ:GOOG)

FineMark National Bank & Trust cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 268,049 shares of the information services provider’s stock after selling 6,033 shares during the quarter. Alphabet comprises approximately 1.8% of FineMark National Bank & Trust’s investment portfolio, making the stock its 10th biggest position. FineMark National Bank & Trust’s holdings in Alphabet were worth $51,047,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Ashton Thomas Securities LLC increased its holdings in shares of Alphabet by 29.2% during the 4th quarter. Ashton Thomas Securities LLC now owns 17,176 shares of the information services provider’s stock worth $3,270,000 after buying an additional 3,887 shares during the last quarter. GQG Partners LLC lifted its holdings in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after acquiring an additional 7,221,746 shares during the last quarter. Princeton Capital Management LLC grew its position in Alphabet by 1.2% in the fourth quarter. Princeton Capital Management LLC now owns 16,917 shares of the information services provider’s stock worth $3,222,000 after acquiring an additional 206 shares during the period. Prospect Financial Group LLC acquired a new stake in Alphabet during the fourth quarter worth $350,000. Finally, Modern Wealth Management LLC raised its position in Alphabet by 367.3% in the fourth quarter. Modern Wealth Management LLC now owns 76,752 shares of the information services provider’s stock valued at $14,445,000 after purchasing an additional 60,327 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction 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 owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of Alphabet 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 in the last 90 days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent analyst reports. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Scotiabank increased their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Up 2.2 %

Shares of Alphabet stock opened at $169.93 on Tuesday. The company has a market capitalization of $2.07 trillion, a P/E ratio of 21.11, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a 50 day moving average of $183.93 and a 200 day moving average of $178.30. Alphabet Inc. has a 52-week low of $148.20 and a 52-week high of $208.70. 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 (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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%. As a group, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

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