Eads & Heald Wealth Management Sells 105 Shares of Alphabet Inc. (NASDAQ:GOOG)

Eads & Heald Wealth Management lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,339 shares of the information services provider’s stock after selling 105 shares during the quarter. Eads & Heald Wealth Management’s holdings in Alphabet were worth $1,398,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Redhawk Wealth Advisors Inc. lifted its stake in Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after purchasing an additional 54 shares in the last quarter. Sunburst Financial Group LLC increased its holdings in shares of Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after purchasing an additional 60 shares during the last quarter. Johnson Financial Group LLC lifted its position in shares of Alphabet by 2.6% in the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after buying an additional 60 shares in the last quarter. Fortitude Family Office LLC boosted its stake in Alphabet by 0.7% during 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 buying an additional 60 shares during the last quarter. Finally, Phillips Financial Management LLC grew its holdings in Alphabet by 1.6% during the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock valued at $644,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOG. Canaccord Genuity Group upped their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Scotiabank increased their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday. Finally, Jefferies Financial Group boosted their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Stock Performance

Alphabet stock opened at $201.90 on Friday. 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 company has a market capitalization of $2.47 trillion, a PE ratio of 26.78, a P/E/G ratio of 1.27 and a beta of 0.99. The company has a 50 day moving average price of $187.39 and a 200-day moving average price of $175.23. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the company posted $1.55 EPS. Alphabet’s revenue was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. 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 payout ratio is 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet 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 transaction, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.