Alphabet Inc. $GOOG Shares Sold by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 15.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,985 shares of the information services provider’s stock after selling 2,229 shares during the period. Greenup Street Wealth Management LLC’s holdings in Alphabet were worth $3,761,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Imprint Wealth LLC acquired a new position in Alphabet during the third quarter worth approximately $31,000. Manning & Napier Advisors LLC acquired a new position in Alphabet during the third quarter worth approximately $32,000. Tripletail Wealth Management LLC acquired a new position in Alphabet during the third quarter worth approximately $40,000. Bay Harbor Wealth Management LLC increased its position in Alphabet by 56.8% during the third quarter. Bay Harbor Wealth Management LLC now owns 218 shares of the information services provider’s stock worth $53,000 after purchasing an additional 79 shares during the last quarter. Finally, Lynch Asset Management Inc. acquired a new position in Alphabet during the third quarter worth approximately $61,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 112 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $302.99, for a total transaction of $33,934.88. Following the sale, the director directly owned 18,418 shares of the company’s stock, valued at approximately $5,580,469.82. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 617 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the sale, the chief accounting officer directly owned 10,093 shares in the company, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,068,744 shares of company stock valued at $104,505,914 in the last ninety days. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $385.00 to $395.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Pivotal Research restated a “buy” rating and issued a $420.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, February 5th. Canaccord Genuity Group upped their target price on shares of Alphabet from $330.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, KeyCorp set a $370.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Eight investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $346.03.

Get Our Latest Analysis on Alphabet

Alphabet Stock Performance

NASDAQ GOOG opened at $339.40 on Monday. Alphabet Inc. has a 12 month low of $148.40 and a 12 month high of $350.15. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market capitalization of $4.11 trillion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The company’s fifty day moving average price is $305.98 and its two-hundred day moving average price is $302.30.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The firm had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. During the same period in the prior year, the firm posted $2.15 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s dividend payout ratio is 7.77%.

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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