Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Worth Financial Advisory Group LLC

Worth Financial Advisory Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,119 shares of the information services provider’s stock after selling 322 shares during the quarter. Alphabet makes up approximately 1.3% of Worth Financial Advisory Group LLC’s investment portfolio, making the stock its 18th largest position. Worth Financial Advisory Group LLC’s holdings in Alphabet were worth $2,118,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated 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 transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock valued at $17,374,274 over the last quarter. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 3.3 %

Shares of GOOG stock opened at $167.14 on Thursday. 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 Inc. has a twelve month low of $148.20 and a twelve month high of $208.70. The company’s 50-day moving average price is $182.96 and its 200-day moving average price is $178.36. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given 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 0.48%. Alphabet’s payout ratio is 9.94%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Wedbush restated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price 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.