Norden Group LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

Norden Group LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,243 shares of the information services provider’s stock after selling 753 shares during the period. Alphabet makes up about 1.1% of Norden Group LLC’s holdings, making the stock its 10th biggest position. Norden Group LLC’s holdings in Alphabet were worth $9,949,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares in the last quarter. Proficio Capital Partners LLC raised its position in shares of Alphabet by 5,712.8% during the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $831,810,000 after purchasing an additional 4,292,689 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Alphabet by 182.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after purchasing an additional 1,630,701 shares during the period. Finally, Jennison Associates LLC grew its position in Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after purchasing an additional 1,291,274 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 2.3 %

Alphabet stock opened at $172.61 on Wednesday. The firm has a 50 day moving average price of $191.13 and a 200-day moving average price of $177.93. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. The company has a market capitalization of $2.10 trillion, a P/E ratio of 21.44, a P/E/G ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. The trade was a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,316 shares of company stock valued at $25,062,887 over the last three months. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

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.