By otakuyassine3@gmail.com 
Stoneridge Investment Partners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 23.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 33,790 shares of the information services provider’s stock after selling 10,407 shares during the quarter. Alphabet makes up about 2.3% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 11th largest holding. Stoneridge Investment Partners LLC’s holdings in Alphabet were worth $6,435,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Weiss Asset Management LP bought a new position in shares of Alphabet in the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet in the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. raised its position in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC raised its position in shares of Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.
Insider Activity
In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.
Alphabet Price Performance
NASDAQ GOOG opened at $185.43 on Thursday. The company has a market capitalization of $2.27 trillion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The business’s fifty day moving average is $193.70 and its 200 day moving average is $176.40. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current 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 given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s payout ratio is 9.94%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer lifted their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.
Check Out Our Latest Report on Alphabet
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.
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