Alphabet Inc. (NASDAQ:GOOG) Holdings Cut by Hedeker Wealth LLC

Hedeker Wealth LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 51,856 shares of the information services provider’s stock after selling 609 shares during the period. Alphabet accounts for about 2.5% of Hedeker Wealth LLC’s holdings, making the stock its 9th largest holding. Hedeker Wealth LLC’s holdings in Alphabet were worth $9,875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new position in shares of Alphabet during the 3rd quarter valued at about $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. increased its stake 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 valued at $42,000 after acquiring an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC increased its stake in shares of Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 over the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Alphabet stock opened at $188.20 on Tuesday. The stock has a market cap of $2.30 trillion, a P/E ratio of 23.38, a price-to-earnings-growth 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. The stock has a 50 day moving average of $193.12 and a 200-day moving average of $176.14. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last released its earnings results 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%. On average, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company 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 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

A number of research firms have recently commented on GOOG. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup increased their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Scotiabank increased their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Finally, Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.