Alphabet Inc. (NASDAQ:GOOG) Stock Position Decreased by Trust Investment Advisors

Trust Investment Advisors cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.2% during the fourth quarter, Holdings Channel reports. The firm owned 11,946 shares of the information services provider’s stock after selling 527 shares during the quarter. Alphabet makes up approximately 1.5% of Trust Investment Advisors’ portfolio, making the stock its 11th largest holding. Trust Investment Advisors’ holdings in Alphabet were worth $2,275,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $27,000. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $33,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet during the 4th quarter worth approximately $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ GOOG opened at $172.79 on Wednesday. The firm has a market capitalization of $2.11 trillion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average price is $183.56 and its two-hundred day moving average price is $178.44. Alphabet Inc. has a 1 year low of $148.20 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued 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 return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.13.

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.