Spectrum Asset Management Inc. NB CA Sells 448 Shares of Alphabet Inc. (NASDAQ:GOOG)

Spectrum Asset Management Inc. NB CA trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,247 shares of the information services provider’s stock after selling 448 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Alphabet were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of GOOG. Weiss Asset Management LP bought a new position in shares of Alphabet in the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the third quarter worth $33,000. Sanctuary Wealth Management L.L.C. increased its stake in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC raised its holdings in shares of Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after buying an additional 84 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

GOOG has been the subject of several research reports. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank increased their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Citigroup boosted their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Up 0.6 %

NASDAQ:GOOG opened at $188.20 on Tuesday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The stock has a 50-day moving average price of $193.12 and a two-hundred day moving average price of $176.14. The stock has a market cap of $2.30 trillion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.39 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s payout ratio is presently 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.