Clarity Wealth Advisors LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Clarity Wealth Advisors LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,299 shares of the information services provider’s stock after selling 822 shares during the quarter. Alphabet makes up 1.7% of Clarity Wealth Advisors LLC’s holdings, making the stock its 20th largest position. Clarity Wealth Advisors LLC’s holdings in Alphabet were worth $6,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of GOOG. Weiss Asset Management LP acquired a new position in shares of Alphabet during the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% during the third 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 raised its holdings in shares of Alphabet by 32.3% during the third 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. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays increased their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Six research 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 MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 completion of the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 over the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.6 %

GOOG opened at $187.07 on Wednesday. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The business has a fifty day simple moving average of $193.42 and a 200-day simple moving average of $176.27. The firm has a market cap of $2.29 trillion, a P/E ratio of 23.24, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is currently 9.94%.

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.