Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Forza Wealth Management LLC

Forza Wealth Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,449 shares of the information services provider’s stock after selling 500 shares during the quarter. Forza Wealth Management LLC’s holdings in Alphabet were worth $657,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Accelerate Investment Advisors LLC increased its position in Alphabet by 8.2% during the fourth quarter. Accelerate Investment Advisors LLC now owns 3,011 shares of the information services provider’s stock worth $573,000 after buying an additional 229 shares during the period. Cooper Financial Group increased its holdings in shares of Alphabet by 5.4% in the 4th quarter. Cooper Financial Group now owns 28,879 shares of the information services provider’s stock valued at $5,500,000 after acquiring an additional 1,476 shares during the period. Future Financial Wealth Managment LLC raised its position in Alphabet by 6.7% in the 4th quarter. Future Financial Wealth Managment LLC now owns 11,565 shares of the information services provider’s stock valued at $2,202,000 after purchasing an additional 725 shares during the last quarter. Cadent Capital Advisors LLC boosted its stake in Alphabet by 7.9% during the 4th quarter. Cadent Capital Advisors LLC now owns 4,185 shares of the information services provider’s stock worth $797,000 after purchasing an additional 306 shares during the period. Finally, Wedmont Private Capital grew its position in Alphabet by 6.1% during the 4th quarter. Wedmont Private Capital now owns 88,841 shares of the information services provider’s stock worth $17,161,000 after purchasing an additional 5,079 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOG has been the subject of several recent research reports. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays lifted their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Down 0.5 %

GOOG opened at $192.29 on Tuesday. Alphabet Inc. has a one year low of $131.55 and a one year high of $202.88. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.50, a PEG ratio of 1.34 and a beta of 0.99. The business’s fifty day moving average is $184.55 and its two-hundred day moving average is $174.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the company earned $1.55 EPS. The firm’s revenue was up 15.1% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,053 shares of company stock worth $27,559,701. 12.99% of the stock is owned by insiders.

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.