Alphabet Inc. (NASDAQ:GOOG) Position Decreased by Denali Advisors LLC

Denali Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 116,963 shares of the information services provider’s stock after selling 933 shares during the period. Alphabet comprises about 2.3% of Denali Advisors LLC’s portfolio, making the stock its 5th biggest position. Denali Advisors LLC’s holdings in Alphabet were worth $22,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Weiss Asset Management LP acquired a new position in Alphabet in the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. boosted its holdings in Alphabet by 87.3% in 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 purchasing an additional 117 shares in the last quarter. Finally, FPC Investment Advisory Inc. boosted its holdings in Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was 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 owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,309 shares of company stock worth $25,057,490. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOG. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Scotiabank increased their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Wedbush reissued an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Price Performance

Alphabet stock opened at $172.22 on Friday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day simple moving average of $192.17 and a 200-day simple moving average of $177.65. The stock has a market capitalization of $2.10 trillion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00.

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%. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

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.