Polymer Capital Management HK LTD Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Polymer Capital Management HK LTD reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 37.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,322 shares of the information services provider’s stock after selling 12,778 shares during the period. Polymer Capital Management HK LTD’s holdings in Alphabet were worth $4,061,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock valued at $21,089,470 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOOG shares. Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Oppenheimer raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Westpark Capital initiated coverage on shares of Alphabet in a research report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.65.

Alphabet Stock Down 3.2 %

Shares of GOOG opened at $147.74 on Friday. The stock has a 50 day moving average price of $177.04 and a 200 day moving average price of $178.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a one year low of $147.54 and a one year high of $208.70.

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

Alphabet Announces Dividend

The firm also recently announced 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 0.54%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

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.