Corbyn Investment Management Inc. MD Sells 5,132 Shares of Alphabet Inc. $GOOG

Corbyn Investment Management Inc. MD lessened its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,494 shares of the information services provider’s stock after selling 5,132 shares during the quarter. Alphabet makes up 3.6% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 10th biggest position. Corbyn Investment Management Inc. MD’s holdings in Alphabet were worth $12,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LongView Wealth Management increased its holdings in Alphabet by 2.3% during the fourth quarter. LongView Wealth Management now owns 5,239 shares of the information services provider’s stock worth $1,743,000 after buying an additional 118 shares during the last quarter. FC Advisory LLC bought a new stake in Alphabet during the fourth quarter worth $237,000. John W. Brooker & Co. CPAs acquired a new stake in Alphabet in the fourth quarter valued at $203,000. Kathmere Capital Management LLC lifted its stake in Alphabet by 8.5% in the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock valued at $9,381,000 after acquiring an additional 2,341 shares during the last quarter. Finally, Norden Group LLC grew its position in shares of Alphabet by 4.5% in the 4th quarter. Norden Group LLC now owns 44,919 shares of the information services provider’s stock valued at $14,096,000 after acquiring an additional 1,944 shares during the period. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $303.92, for a total value of $9,877,400.00. Following the transaction, the chief executive officer directly owned 2,818,524 shares of the company’s stock, valued at $856,605,814.08. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 955 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the completion of the transaction, the chief accounting officer owned 9,918 shares of the company’s stock, valued at $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,092,336 shares of company stock valued at $112,519,943 over the last 90 days. 12.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GOOG shares. UBS Group reaffirmed a “neutral” rating and issued a $348.00 target price (up from $345.00) on shares of Alphabet in a report on Thursday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a report on Tuesday, January 20th. Truist Financial set a $350.00 price target on Alphabet in a research report on Friday, December 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $375.00 price objective on shares of Alphabet in a research note on Thursday, January 15th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $365.00 price objective (up from $355.00) on shares of Alphabet in a research report on Thursday, February 5th. Nine equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average price target of $345.71.

View Our Latest Analysis on Alphabet

Alphabet Trading Down 0.2%

Shares of NASDAQ:GOOG opened at $273.14 on Tuesday. The business’s 50 day simple moving average is $311.78 and its 200 day simple moving average is $296.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year 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 $3.30 trillion, a P/E ratio of 25.27, a P/E/G ratio of 1.60 and a beta of 1.10.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s payout ratio is 7.77%.

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Alphabet Profile

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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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