Private Wealth Partners LLC Sells 2,400 Shares of Alphabet Inc. (NASDAQ:GOOG)

Private Wealth Partners LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,067 shares of the information services provider’s stock after selling 2,400 shares during the period. Alphabet accounts for about 2.1% of Private Wealth Partners LLC’s investment portfolio, making the stock its 14th biggest position. Private Wealth Partners LLC’s holdings in Alphabet were worth $27,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of GOOG. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the fourth quarter worth approximately $27,000. Weiss Asset Management LP bought a new stake in shares of Alphabet during the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the third quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. raised its stake in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the last quarter. Finally, Maryland Capital Advisors Inc. raised its stake in shares of Alphabet by 33.0% during the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock worth $51,000 after buying an additional 66 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Canaccord Genuity Group upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Performance

Shares of GOOG opened at $181.58 on Friday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The firm has a fifty day simple moving average of $194.02 and a 200 day simple moving average of $177.34. The stock has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.34 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced 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. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,299 shares of company stock worth $25,055,751. 12.99% of the stock is owned by insiders.

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.