Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Invenio Wealth Partners LLC

Invenio Wealth Partners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 13.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,060 shares of the information services provider’s stock after selling 320 shares during the quarter. Invenio Wealth Partners LLC’s holdings in Alphabet were worth $392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in Alphabet during the third quarter worth approximately $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the 3rd quarter valued at $33,000. WealthTrak Capital Management LLC acquired a new stake in Alphabet during the 4th quarter worth $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of research analyst reports. Oppenheimer lifted their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.56.

Alphabet Stock Performance

NASDAQ:GOOG opened at $156.23 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a fifty-two week low of $148.20 and a fifty-two week high of $208.70. The firm’s fifty day simple moving average is $180.70 and its 200-day simple moving average is $178.70. The stock has a market cap of $1.90 trillion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This represents a 19.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,992 shares of company stock worth $16,093,773. 12.99% of the stock is owned by corporate insiders.

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.