Perfromance Wealth Partners LLC Sells 2,335 Shares of Alphabet Inc. (NASDAQ:GOOG)

Perfromance Wealth Partners LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 843,597 shares of the information services provider’s stock after selling 2,335 shares during the quarter. Alphabet accounts for 5.2% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 6th largest position. Perfromance Wealth Partners LLC’s holdings in Alphabet were worth $160,655,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter worth approximately $25,000. Abich Financial Wealth Management LLC lifted its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares in the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the 3rd quarter worth approximately $33,000. HWG Holdings LP acquired a new stake in Alphabet during the 2nd quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted its holdings in 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 buying an additional 117 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,387 shares of company stock valued at $24,368,654. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOG. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Barclays increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Trading Down 0.2 %

Shares of Alphabet stock opened at $199.58 on Friday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.44 trillion, a P/E ratio of 26.47, a PEG ratio of 1.27 and a beta of 0.99. The company’s fifty day moving average is $186.95 and its two-hundred day moving average is $175.06.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the firm posted $1.55 EPS. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

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.