Pine Valley Investments Ltd Liability Co Sells 3,993 Shares of Alphabet Inc. (NASDAQ:GOOG)

Pine Valley Investments Ltd Liability Co lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,411 shares of the information services provider’s stock after selling 3,993 shares during the quarter. Alphabet accounts for approximately 1.2% of Pine Valley Investments Ltd Liability Co’s portfolio, making the stock its 11th largest holding. Pine Valley Investments Ltd Liability Co’s holdings in Alphabet were worth $20,836,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOG. M&G PLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at $2,240,000. GPS Wealth Strategies Group LLC lifted its stake in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after buying an additional 14,738 shares during the period. Metis Global Partners LLC grew its stake in shares of Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the last quarter. Finally, Requisite Capital Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $927,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 134,188 shares of company stock worth $25,036,883. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Scotiabank increased their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Trading Down 2.6 %

GOOG opened at $170.21 on Friday. 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 Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The stock has a market cap of $2.07 trillion, a PE ratio of 21.14, a PEG ratio of 1.34 and a beta of 1.00. The business has a 50 day moving average of $192.59 and a 200-day moving average of $177.59.

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

Alphabet Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

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.