SFG Wealth Management LLC. trimmed its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 4,871 shares of the information services provider’s stock after selling 88 shares during the quarter. SFG Wealth Management LLC.’s holdings in Alphabet were worth $928,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Weiss Asset Management LP bought a new stake in Alphabet during the 3rd quarter valued at approximately $25,000. Abich Financial Wealth Management LLC boosted its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the period. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter worth $33,000. HWG Holdings LP acquired a new position in Alphabet during the 2nd quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Price Performance
Alphabet stock opened at $199.63 on Wednesday. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84. The firm has a market cap of $2.44 trillion, a P/E ratio of 26.48, a P/E/G ratio of 1.25 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s fifty day moving average is $186.23 and its two-hundred day moving average is $174.83.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a 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%.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of research analyst reports. UBS Group upped their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Barclays lifted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Scotiabank started coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Six 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 company’s stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.
Check Out Our Latest Report on Alphabet
Insiders Place Their Bets
In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is currently owned by corporate insiders.
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.
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