Alphabet Inc. (NASDAQ:GOOG) is Progressive Investment Management Corp’s 4th Largest Position

Progressive Investment Management Corp cut its position in Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,401 shares of the information services provider’s stock after selling 1,994 shares during the quarter. Alphabet accounts for 5.4% of Progressive Investment Management Corp’s holdings, making the stock its 4th largest holding. Progressive Investment Management Corp’s holdings in Alphabet were worth $21,215,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Financial Planning Inc. grew its holdings in shares of Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after buying an additional 50 shares in the last quarter. Arlington Trust Co LLC grew its stake in Alphabet by 0.4% during 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 acquiring an additional 52 shares in the last quarter. Harrell Investment Partners LLC increased its holdings 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 purchasing an additional 53 shares during the period. Ethos Financial Group LLC lifted its position in shares of Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after purchasing an additional 53 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its holdings in shares of Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after purchasing an additional 54 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $156.06 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. The stock’s 50 day moving average price is $181.53 and its two-hundred day moving average price is $178.31. The firm has a market capitalization of $1.90 trillion, a P/E ratio of 19.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $148.20 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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 net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOOG shares. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Scotiabank boosted their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. 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 given a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $208.56.

Insider Buying and Selling

In other news, insider Ruth Porat sold 17,690 shares of the firm’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 approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,812 shares of company stock valued at $19,336,979 over the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Company 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.