By otakuyassine3@gmail.com 
Pekin Hardy Strauss Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 51,320 shares of the information services provider’s stock after selling 800 shares during the quarter. Alphabet comprises approximately 1.2% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 9th biggest position. Pekin Hardy Strauss Inc.’s holdings in Alphabet were worth $9,715,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pettinga Financial Advisors LLC increased its stake in shares of Alphabet by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after purchasing an additional 201 shares during the last quarter. Forsta AP Fonden increased its stake in shares of Alphabet by 8.8% in the 3rd quarter. Forsta AP Fonden now owns 1,599,400 shares of the information services provider’s stock valued at $265,260,000 after purchasing an additional 129,100 shares during the last quarter. NorthCrest Asset Manangement LLC increased its stake in shares of Alphabet by 2.2% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 299,943 shares of the information services provider’s stock valued at $49,746,000 after purchasing an additional 6,344 shares during the last quarter. Horizon Bancorp Inc. IN increased its stake in shares of Alphabet by 10.9% in the 3rd quarter. Horizon Bancorp Inc. IN now owns 2,510 shares of the information services provider’s stock valued at $416,000 after purchasing an additional 247 shares during the last quarter. Finally, Pathway Financial Advisers LLC increased its stake in shares of Alphabet by 21,228.1% in the 3rd quarter. Pathway Financial Advisers LLC now owns 716,199 shares of the information services provider’s stock valued at $118,782,000 after purchasing an additional 712,841 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, 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 transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares in the company, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,316 shares of company stock worth $25,062,887. Corporate insiders own 11.55% of the company’s stock.
Alphabet Stock Up 0.9 %
Shares of NASDAQ:GOOGL opened at $173.86 on Friday. The business’s 50 day simple moving average is $188.21 and its two-hundred day simple moving average is $176.40. The firm has a market cap of $2.12 trillion, a P/E ratio of 21.60, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52-week low of $134.00 and a 52-week high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results 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 return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is currently 9.94%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Citigroup lowered their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.62.
Get Our Latest Report on Alphabet
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.
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