Chicago Wealth Management Inc. Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Chicago Wealth Management Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,349 shares of the information services provider’s stock after selling 498 shares during the period. Alphabet makes up 0.9% of Chicago Wealth Management Inc.’s investment portfolio, making the stock its 22nd largest holding. Chicago Wealth Management Inc.’s holdings in Alphabet were worth $1,780,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in GOOG. Sterling Financial Planning Inc. lifted its holdings in Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after buying an additional 50 shares in the last quarter. Arlington Trust Co LLC grew its stake in Alphabet by 0.4% in the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after purchasing an additional 52 shares in the last quarter. Harrell Investment Partners LLC grew its stake in Alphabet by 0.9% in the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after purchasing an additional 53 shares in the last quarter. Ethos Financial Group LLC increased its holdings in Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after purchasing an additional 53 shares during the period. Finally, Redhawk Wealth Advisors Inc. raised its position in Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 1.1 %

Shares of NASDAQ:GOOG opened at $165.98 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $138.21 and a 12-month high of $208.70. The business has a 50 day moving average of $188.87 and a two-hundred day moving average of $178.08. The company has a market capitalization of $2.02 trillion, a PE ratio of 20.62, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GOOG. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the sale, the director now directly owns 23,324 shares in the company, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. The trade was a 8.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,182 shares of company stock worth $18,192,354 in the last 90 days. Insiders own 12.99% of the company’s stock.

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.