Dakota Wealth Management Trims Position in Alphabet Inc. (NASDAQ:GOOG)

Dakota Wealth Management trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,973 shares of the information services provider’s stock after selling 3,151 shares during the quarter. Alphabet makes up approximately 0.8% of Dakota Wealth Management’s portfolio, making the stock its 23rd biggest holding. Dakota Wealth Management’s holdings in Alphabet were worth $33,703,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GOOG. MBB Public Markets I LLC increased its stake in Alphabet by 3,586.8% in the 2nd quarter. MBB Public Markets I LLC now owns 361,788 shares of the information services provider’s stock worth $66,359,000 after acquiring an additional 351,975 shares during the last quarter. Matrix Private Capital Group LLC increased its position in shares of Alphabet by 6.0% in the second quarter. Matrix Private Capital Group LLC now owns 2,110 shares of the information services provider’s stock worth $387,000 after purchasing an additional 120 shares during the last quarter. Marathon Capital Management raised its stake in Alphabet by 7.1% in the second quarter. Marathon Capital Management now owns 11,320 shares of the information services provider’s stock valued at $2,076,000 after purchasing an additional 755 shares in the last quarter. Lummis Asset Management LP lifted its position in Alphabet by 0.4% during the second quarter. Lummis Asset Management LP now owns 18,959 shares of the information services provider’s stock valued at $3,477,000 after purchasing an additional 76 shares during the last quarter. Finally, Select Equity Group L.P. grew its stake in Alphabet by 1.4% in the 2nd quarter. Select Equity Group L.P. now owns 624,862 shares of the information services provider’s stock worth $114,612,000 after buying an additional 8,807 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted 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 report on Tuesday, October 29th. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $205.13.

Alphabet Stock Up 1.2 %

NASDAQ GOOG opened at $201.90 on Friday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The stock has a market capitalization of $2.47 trillion, a PE ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. 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 business’s 50-day moving average is $187.39 and its 200 day moving average is $175.23.

Alphabet (NASDAQ:GOOG) last posted 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 return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.