Pitcairn Co. Sells 437 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pitcairn Co. cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 79,296 shares of the information services provider’s stock after selling 437 shares during the period. Alphabet accounts for 0.9% of Pitcairn Co.’s portfolio, making the stock its 18th largest holding. Pitcairn Co.’s holdings in Alphabet were worth $15,101,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after acquiring an additional 1,219,606 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Alphabet by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock worth $5,870,181,000 after purchasing an additional 875,480 shares in the last quarter. Norges Bank bought a new stake in Alphabet during the 4th quarter valued at approximately $5,166,070,000. Principal Financial Group Inc. raised its stake in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the period. Finally, Swedbank AB boosted its stake in Alphabet by 1.7% in the 4th quarter. Swedbank AB now owns 8,483,070 shares of the information services provider’s stock worth $1,615,516,000 after purchasing an additional 144,170 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $158.86 on Thursday. Alphabet Inc. has a 12-month low of $148.20 and a 12-month high of $208.70. 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 has a 50-day moving average price of $179.06 and a 200-day moving average price of $178.56. The firm has a market capitalization of $1.94 trillion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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 research analysts forecast that Alphabet Inc. will post 8.89 EPS 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 issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet 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 owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This represents a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,297 shares of company stock valued at $15,936,270 in the last quarter. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark reiterated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $208.65.

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.