Beach Investment Counsel Inc. PA Sells 5,030 Shares of Alphabet Inc. (NASDAQ:GOOG)

Beach Investment Counsel Inc. PA reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,580 shares of the information services provider’s stock after selling 5,030 shares during the quarter. Beach Investment Counsel Inc. PA’s holdings in Alphabet were worth $3,538,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GOOG. Pinnacle Bancorp Inc. raised its stake in shares of Alphabet by 24.0% in the third quarter. Pinnacle Bancorp Inc. now owns 18,520 shares of the information services provider’s stock valued at $3,096,000 after buying an additional 3,582 shares during the period. Contravisory Investment Management Inc. raised its stake in shares of Alphabet by 0.3% in the third quarter. Contravisory Investment Management Inc. now owns 50,806 shares of the information services provider’s stock valued at $8,494,000 after buying an additional 142 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $6,866,000. Private Advisory Group LLC raised its stake in shares of Alphabet by 7.6% during the 3rd quarter. Private Advisory Group LLC now owns 182,335 shares of the information services provider’s stock valued at $30,485,000 after purchasing an additional 12,919 shares during the period. Finally, Westwind Capital raised its stake in shares of Alphabet by 381.6% during the 3rd quarter. Westwind Capital now owns 119,328 shares of the information services provider’s stock valued at $19,950,000 after purchasing an additional 94,550 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Price Performance

GOOG opened at $187.14 on Friday. The stock has a 50-day moving average price of $192.78 and a 200-day moving average price of $176.15. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.29 trillion, a P/E ratio of 24.82, a PEG ratio of 1.32 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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 31.66% and a net margin of 27.74%. Equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,529 shares of company stock valued at $16,600,078. Insiders own 12.99% of the company’s stock.

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.