Long Run Wealth Advisors LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Long Run Wealth Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,960 shares of the information services provider’s stock after selling 4,112 shares during the period. Long Run Wealth Advisors LLC’s holdings in Alphabet were worth $3,801,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Montis Financial LLC grew its position in shares of Alphabet by 17.6% in the third quarter. Montis Financial LLC now owns 7,757 shares of the information services provider’s stock valued at $1,297,000 after purchasing an additional 1,160 shares in the last quarter. Mechanics Bank Trust Department boosted its stake in Alphabet by 1.3% during the third quarter. Mechanics Bank Trust Department now owns 29,115 shares of the information services provider’s stock worth $4,868,000 after buying an additional 380 shares during the last quarter. Matrix Asset Advisors Inc. NY increased its stake in shares of Alphabet by 0.5% in the 3rd quarter. Matrix Asset Advisors Inc. NY now owns 163,875 shares of the information services provider’s stock worth $27,398,000 after acquiring an additional 798 shares during the last quarter. City State Bank raised its holdings in shares of Alphabet by 8.0% during the 3rd quarter. City State Bank now owns 14,896 shares of the information services provider’s stock worth $2,490,000 after acquiring an additional 1,109 shares during the period. Finally, Retirement Planning Group LLC boosted its position in shares of Alphabet by 78.6% during the 3rd quarter. Retirement Planning Group LLC now owns 12,505 shares of the information services provider’s stock valued at $2,091,000 after acquiring an additional 5,502 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOG opened at $187.14 on Monday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The firm has a market capitalization of $2.29 trillion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The business’s fifty day moving average price is $193.12 and its 200 day moving average price is $176.13.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOG shares. Canaccord Genuity Group lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company boosted their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. 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 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock valued at $16,600,078 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet 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.