MRA Advisory Group Sells 1,031 Shares of Alphabet Inc. (NASDAQ:GOOG)

MRA Advisory Group cut its position in Alphabet Inc. (NASDAQ:GOOG) by 8.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,655 shares of the information services provider’s stock after selling 1,031 shares during the quarter. Alphabet comprises about 1.1% of MRA Advisory Group’s portfolio, making the stock its 20th biggest holding. MRA Advisory Group’s holdings in Alphabet were worth $2,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G PLC acquired a new stake in Alphabet during the third quarter worth about $2,240,000. Coldstream Capital Management Inc. boosted its position in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares in the last quarter. Metis Global Partners LLC increased its stake in Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Stevens Capital Management LP raised its position in Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after purchasing an additional 57,810 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its stake in Alphabet by 10.2% during the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after purchasing an additional 5,892 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent analyst reports. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Jefferies Financial Group lifted their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,553 shares of company stock valued at $23,817,951 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 0.6 %

GOOG opened at $191.05 on Wednesday. The stock has a market cap of $2.34 trillion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The company has a fifty day moving average of $184.95 and a 200-day moving average of $174.55.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business 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%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.55 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s payout ratio is presently 10.61%.

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.