Horizon Wealth Management LLC Sells 771 Shares of Alphabet Inc. (NASDAQ:GOOG)

Horizon Wealth Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the fourth quarter, HoldingsChannel reports. The fund owned 10,793 shares of the information services provider’s stock after selling 771 shares during the period. Alphabet makes up approximately 0.4% of Horizon Wealth Management LLC’s holdings, making the stock its 24th largest holding. Horizon Wealth Management LLC’s holdings in Alphabet were worth $2,055,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Sunflower Bank N.A. grew its stake in shares of Alphabet by 8.4% during the 4th quarter. Sunflower Bank N.A. now owns 11,417 shares of the information services provider’s stock valued at $2,174,000 after acquiring an additional 884 shares during the period. Burns J W & Co. Inc. NY grew its stake in shares of Alphabet by 0.5% during the 4th quarter. Burns J W & Co. Inc. NY now owns 140,430 shares of the information services provider’s stock valued at $26,743,000 after acquiring an additional 643 shares during the period. Heritage Wealth Partners LLC grew its stake in shares of Alphabet by 30.3% during the 4th quarter. Heritage Wealth Partners LLC now owns 5,881 shares of the information services provider’s stock valued at $1,120,000 after acquiring an additional 1,369 shares during the period. Kwmg LLC grew its stake in shares of Alphabet by 3.2% during the 4th quarter. Kwmg LLC now owns 4,514 shares of the information services provider’s stock valued at $860,000 after acquiring an additional 140 shares during the period. Finally, Persium Advisors LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $257,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOG has been the subject of several recent analyst reports. Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Performance

NASDAQ:GOOG opened at $192.29 on Tuesday. The stock’s fifty day moving average is $184.55 and its 200 day moving average is $174.49. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The firm has a market capitalization of $2.35 trillion, a PE ratio of 25.50, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the firm posted $1.55 EPS. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s payout ratio is 10.61%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,053 shares of company stock worth $27,559,701 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet 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.