Rockport Wealth LLC Sells 500 Shares of Alphabet Inc. (NASDAQ:GOOG)

Rockport Wealth LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,865 shares of the information services provider’s stock after selling 500 shares during the period. Rockport Wealth LLC’s holdings in Alphabet were worth $736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Swedbank AB increased its position in shares of Alphabet by 0.6% during the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after acquiring an additional 51,226 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. Schneider Downs Wealth Management Advisors LP increased its position in shares of Alphabet by 41.8% during the third quarter. Schneider Downs Wealth Management Advisors LP now owns 4,941 shares of the information services provider’s stock worth $826,000 after acquiring an additional 1,457 shares in the last quarter. Accredited Investors Inc. increased its position in shares of Alphabet by 1.0% during the third quarter. Accredited Investors Inc. now owns 29,246 shares of the information services provider’s stock worth $4,890,000 after acquiring an additional 302 shares in the last quarter. Finally, GoalVest Advisory LLC increased its position in shares of Alphabet by 22.5% during the third quarter. GoalVest Advisory LLC now owns 1,411 shares of the information services provider’s stock worth $236,000 after acquiring an additional 259 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 1.8 %

GOOG opened at $167.62 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a twelve month low of $141.13 and a twelve month high of $208.70. The company’s 50-day moving average price is $187.41 and its two-hundred day moving average price is $178.10.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Analysts Set New Price Targets

GOOG has been the subject of several recent research reports. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Oppenheimer upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $209.13.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is owned by corporate insiders.

About Alphabet

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.