Kades & Cheifetz LLC Sells 488 Shares of Alphabet Inc. (NASDAQ:GOOG)

Kades & Cheifetz LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 7.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,096 shares of the information services provider’s stock after selling 488 shares during the period. Kades & Cheifetz LLC’s holdings in Alphabet were worth $1,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth about $33,000. Abich Financial Wealth Management LLC grew its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the last quarter. HWG Holdings LP bought a new stake in shares of Alphabet in the second quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Barclays increased their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Jefferies Financial Group boosted their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

GOOG stock traded down $1.20 during midday trading on Monday, reaching $191.97. The company had a trading volume of 8,335,281 shares, compared to its average volume of 15,722,723. The firm has a 50-day moving average price of $184.12 and a 200-day moving average price of $174.45. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.35 trillion, a P/E ratio of 25.46, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,387 shares of company stock worth $27,748,931 in the last 90 days. 12.99% of the stock is owned by company insiders.

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.