Allen Mooney & Barnes Investment Advisors LLC Sells 673 Shares of Alphabet Inc. (NASDAQ:GOOG)

Allen Mooney & Barnes Investment Advisors LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,484 shares of the information services provider’s stock after selling 673 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Alphabet were worth $664,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MSA Advisors LLC raised its position in shares of Alphabet by 0.8% in the 2nd quarter. MSA Advisors LLC now owns 116,565 shares of the information services provider’s stock worth $21,380,000 after acquiring an additional 900 shares in the last quarter. WealthPLAN Partners LLC increased its holdings in Alphabet by 14.4% in the second quarter. WealthPLAN Partners LLC now owns 61,367 shares of the information services provider’s stock worth $11,256,000 after purchasing an additional 7,722 shares in the last quarter. Luts & Greenleigh Group Inc. acquired a new position in Alphabet in the second quarter valued at approximately $840,000. Lmcg Investments LLC boosted its holdings in shares of Alphabet by 0.6% during the 2nd quarter. Lmcg Investments LLC now owns 135,514 shares of the information services provider’s stock worth $24,856,000 after buying an additional 806 shares in the last quarter. Finally, Excalibur Management Corp grew its position in shares of Alphabet by 17.0% during the 2nd quarter. Excalibur Management Corp now owns 2,827 shares of the information services provider’s stock worth $519,000 after buying an additional 411 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares in the company, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

GOOG opened at $196.98 on Thursday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.41 trillion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.34 and a beta of 0.99. The firm’s fifty day moving average price is $184.95 and its two-hundred day moving average price is $174.55.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.55 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Oppenheimer boosted their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

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.