Glassy Mountain Advisors Inc. Sells 972 Shares of Alphabet Inc. (NASDAQ:GOOG)

Glassy Mountain Advisors Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,004 shares of the information services provider’s stock after selling 972 shares during the quarter. Alphabet makes up approximately 3.7% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 8th largest position. Glassy Mountain Advisors Inc.’s holdings in Alphabet were worth $10,665,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. M&G PLC acquired a new stake in Alphabet during the third quarter worth about $2,240,000. GPS Wealth Strategies Group LLC grew its stake 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 buying an additional 1,041 shares during the period. Coldstream Capital Management Inc. increased its holdings 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 buying an additional 14,738 shares during the last quarter. Metis Global Partners LLC raised its position in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the period. Finally, Requisite Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $927,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. UBS Group upped their target price 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. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Scotiabank upped their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,529 shares of company stock valued at $16,600,078. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 3.2 %

Shares of Alphabet stock opened at $187.14 on Monday. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. The company has a 50 day moving average of $193.12 and a 200 day moving average of $176.13. 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 company has a market capitalization of $2.29 trillion, a P/E ratio of 23.25, a P/E/G ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. 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 payout ratio is currently 9.94%.

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.