Alphabet Inc. (NASDAQ:GOOG) Shares Sold by CPA Asset Management LLC

CPA Asset Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,060 shares of the information services provider’s stock after selling 1,380 shares during the quarter. CPA Asset Management LLC’s holdings in Alphabet were worth $964,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at about $27,000. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet in the third quarter valued at approximately $33,000. FPC Investment Advisory Inc. boosted its holdings in shares of Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 167 shares during the period. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on GOOG shares. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Performance

Shares of GOOG opened at $172.22 on Friday. The company has a market capitalization of $2.10 trillion, a PE ratio of 21.39, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. The company has a 50-day simple moving average of $192.17 and a 200-day simple moving average of $177.65. 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 (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal 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 issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,309 shares of company stock valued at $25,057,490. Insiders own 12.99% of the company’s stock.

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.