Krilogy Financial LLC Sells 2,044 Shares of Alphabet Inc. (NASDAQ:GOOG)

Krilogy Financial LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.3% in the fourth quarter, Holdings Channel reports. The fund owned 45,665 shares of the information services provider’s stock after selling 2,044 shares during the quarter. Krilogy Financial LLC’s holdings in Alphabet were worth $8,697,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Redhawk Wealth Advisors Inc. grew its stake in Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares during the last quarter. Sunburst Financial Group LLC grew its stake in Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 60 shares during the last quarter. Johnson Financial Group LLC grew its stake in Alphabet by 2.6% in the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 60 shares during the last quarter. Fortitude Family Office LLC grew its stake in Alphabet by 0.7% in the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after purchasing an additional 60 shares during the last quarter. Finally, Phillips Financial Management LLC grew its stake in Alphabet by 1.6% in the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock valued at $644,000 after purchasing an additional 61 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GOOG shares. JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup raised their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock worth $24,368,654 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 1.6 %

Shares of GOOG stock opened at $197.55 on Monday. The stock has a 50 day moving average of $185.92 and a 200 day moving average of $174.85. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.42 trillion, a P/E ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.