Adero Partners LLC Sells 499 Shares of Alphabet Inc. (NASDAQ:GOOG)

Adero Partners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 70,340 shares of the information services provider’s stock after selling 499 shares during the period. Alphabet makes up about 0.9% of Adero Partners LLC’s portfolio, making the stock its 22nd largest holding. Adero Partners LLC’s holdings in Alphabet were worth $13,396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOG. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $27,000. Weiss Asset Management LP acquired a new position in Alphabet in the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC increased its position in shares of Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GOOG shares. Wedbush reiterated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Oppenheimer increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank boosted their price objective 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. Barclays raised their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Down 3.2 %

Shares of GOOG opened at $187.14 on Monday. The stock’s 50-day moving average price is $193.12 and its two-hundred day moving average price is $176.13. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The company has a market capitalization of $2.29 trillion, a PE ratio of 23.25, a PEG ratio of 1.39 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were 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 in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock valued at $16,600,078 over the last quarter. Insiders own 12.99% of the company’s stock.

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.