Guinness Atkinson Asset Management Inc Sells 512 Shares of Alphabet Inc. (NASDAQ:GOOG)

Guinness Atkinson Asset Management Inc reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,048 shares of the information services provider’s stock after selling 512 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Alphabet were worth $390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Alphabet by 5.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 238,750 shares of the information services provider’s stock worth $45,468,000 after purchasing an additional 11,714 shares during the last quarter. Corundum Group Inc. grew its stake in shares of Alphabet by 26.1% in the fourth quarter. Corundum Group Inc. now owns 10,307 shares of the information services provider’s stock worth $1,963,000 after purchasing an additional 2,133 shares during the last quarter. Maltin Wealth Management Inc. grew its stake in shares of Alphabet by 19.9% in the fourth quarter. Maltin Wealth Management Inc. now owns 1,812 shares of the information services provider’s stock worth $345,000 after purchasing an additional 301 shares during the last quarter. AMI Investment Management Inc. grew its stake in shares of Alphabet by 2.9% in the fourth quarter. AMI Investment Management Inc. now owns 45,467 shares of the information services provider’s stock worth $8,659,000 after purchasing an additional 1,274 shares during the last quarter. Finally, BlueSky Wealth Advisors LLC lifted its holdings in Alphabet by 2.4% in the fourth quarter. BlueSky Wealth Advisors LLC now owns 31,063 shares of the information services provider’s stock worth $5,916,000 after buying an additional 726 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 0.2 %

Shares of GOOG stock opened at $200.03 on Thursday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The firm has a fifty day moving average price of $186.56 and a 200-day moving average price of $174.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $2.45 trillion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.25 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. Canaccord Genuity Group raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer raised their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.