Hart & Patterson Financial Group LLC Sells 80 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Hart & Patterson Financial Group LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,237 shares of the information services provider’s stock after selling 80 shares during the period. Hart & Patterson Financial Group LLC’s holdings in Alphabet were worth $234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter valued at about $32,000. Denver PWM LLC bought a new stake in Alphabet during the 2nd quarter valued at approximately $41,000. Quarry LP bought a new stake in Alphabet during the 2nd quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet during the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC raised its position in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now directly owns 23,324 shares in the company, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,553 shares of company stock valued at $23,817,951. 11.55% of the stock is owned by company insiders.

Alphabet Trading Down 0.7 %

Alphabet stock opened at $189.66 on Wednesday. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42. The company has a market cap of $2.32 trillion, a P/E ratio of 25.15, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $183.45 and a two-hundred day simple moving average of $173.04.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the business posted $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research reports. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Wedbush boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Morgan Stanley upped their price objective on shares of Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.15.

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.