PFG Advisors cut its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,131 shares of the information services provider's stock after selling 2,806 shares during the period. PFG Advisors' holdings in Alphabet were worth $8,785,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth about $27,000. Weiss Asset Management LP acquired a new position in Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $33,000. Noble Wealth Management PBC acquired a new position in Alphabet during the 4th quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. raised its stake in Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider's stock worth $46,000 after buying an additional 167 shares during the period. 27.26% of the stock is owned by institutional investors.
GOOG has been the topic of a number of research reports. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. The Goldman Sachs Group reissued a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Friday, January 24th. Needham & Company LLC reissued a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Oppenheimer boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $209.13.
View Our Latest Stock Report on GOOG
Shares of NASDAQ:GOOG traded up $3.02 during trading on Wednesday, hitting $169.00. 19,557,491 shares of the company were exchanged, compared to its average volume of 19,179,559. The company has a market cap of $2.06 trillion, a PE ratio of 20.99, a P/E/G ratio of 1.34 and a beta of 1.03. The stock has a 50 day moving average of $188.87 and a 200 day moving average of $178.08. Alphabet Inc. has a 52-week low of $140.01 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results 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 return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. 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 0.47%. Alphabet's dividend payout ratio (DPR) is presently 9.94%.
In related news, insider Ruth Porat sold 17,690 shares of the stock in a transaction on 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 sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,182 shares of company stock worth $18,192,354. Corporate insiders own 12.99% of the company's stock.
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.
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