Alphabet Inc. (NASDAQ:GOOG) Stake Lowered by Corient Private Wealth LLC

Corient Private Wealth LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 4th quarter, HoldingsChannel reports. The fund owned 5,546,075 shares of the information services provider’s stock after selling 10,948 shares during the period. Alphabet accounts for 1.7% of Corient Private Wealth LLC’s holdings, making the stock its 8th biggest position. Corient Private Wealth LLC’s holdings in Alphabet were worth $1,049,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Swedbank AB boosted its holdings in Alphabet by 0.6% in the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after purchasing an additional 51,226 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after purchasing an additional 264,962 shares in the last quarter. Seelaus Asset Management LLC boosted its holdings in Alphabet by 48.4% in the third quarter. Seelaus Asset Management LLC now owns 9,194 shares of the information services provider’s stock worth $1,537,000 after purchasing an additional 3,000 shares in the last quarter. Evolution Wealth Advisors LLC boosted its holdings in Alphabet by 1.3% in the third quarter. Evolution Wealth Advisors LLC now owns 57,865 shares of the information services provider’s stock worth $9,673,000 after purchasing an additional 760 shares in the last quarter. Finally, RIA Advisory Group LLC bought a new stake in Alphabet in the third quarter worth $323,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,882 shares of company stock valued at $17,934,130 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $167.62 on Friday. Alphabet Inc. has a 12-month low of $141.13 and a 12-month high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm has a 50-day moving average price of $187.41 and a 200 day moving average price of $178.00.

Alphabet (NASDAQ:GOOG) last posted 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 net margin of 28.60% and a return on equity of 32.49%. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared 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. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOG. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Oppenheimer boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $209.13.

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.