Alphabet Inc. (NASDAQ:GOOG) Holdings Cut by Weik Capital Management

Weik Capital Management reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,588 shares of the information services provider’s stock after selling 630 shares during the period. Alphabet makes up about 5.8% of Weik Capital Management’s holdings, making the stock its 4th biggest holding. Weik Capital Management’s holdings in Alphabet were worth $14,204,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. GPS Wealth Strategies Group LLC lifted its position in shares of Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares during the last quarter. North Forty Two & Co. bought a new position in Alphabet during the fourth quarter worth $281,000. Coldstream Capital Management Inc. boosted its holdings in Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the period. Requisite Capital Management LLC bought a new stake in Alphabet during the fourth quarter valued at $927,000. Finally, Stevens Capital Management LP raised its holdings in shares of Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after purchasing an additional 57,810 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Scotiabank upped their price target 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. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer lifted their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Down 1.8 %

Shares of Alphabet stock opened at $164.08 on Friday. 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 12-month low of $148.20 and a 12-month high of $208.70. The firm has a market capitalization of $2.00 trillion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock’s fifty day moving average is $182.36 and its 200-day moving average is $178.26.

Alphabet (NASDAQ:GOOG) last announced its earnings results 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%. Equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given 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 0.49%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated 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 sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,812 shares of company stock valued at $19,336,979 in the last quarter. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.