Alphabet Inc. (NASDAQ:GOOG) Stock Position Cut by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,247 shares of the information services provider’s stock after selling 448 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Alphabet were worth $428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GOOG. M&G PLC acquired a new position in shares of Alphabet in the 3rd quarter worth approximately $2,240,000. GPS Wealth Strategies Group LLC lifted its position in shares of Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after acquiring an additional 1,041 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC grew its position in Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Finally, Requisite Capital Management LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at $927,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Wedbush restated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Jefferies Financial Group upped their price objective 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. Finally, Citigroup lifted their target price 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 investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is owned by company insiders.

Alphabet Stock Up 0.6 %

Shares of Alphabet stock opened at $188.20 on Tuesday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $193.12 and a two-hundred day moving average price of $176.14. The stock has a market capitalization of $2.30 trillion, a P/E ratio of 23.38, a PEG ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.