Wilmington Savings Fund Society FSB Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Wilmington Savings Fund Society FSB cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 351,105 shares of the information services provider’s stock after selling 3,061 shares during the quarter. Alphabet comprises 1.2% of Wilmington Savings Fund Society FSB’s investment portfolio, making the stock its 13th biggest holding. Wilmington Savings Fund Society FSB’s holdings in Alphabet were worth $66,864,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new stake in shares of Alphabet in the 3rd quarter worth about $25,000. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter worth about $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. increased its stake 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 purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC increased its stake 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 purchasing an additional 84 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 0.6 %

Alphabet stock opened at $187.07 on Wednesday. The business has a 50-day simple moving average of $193.42 and a two-hundred day simple moving average of $176.27. The company 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. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. 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 announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

A number of brokerages have weighed in on GOOG. Scotiabank raised their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. UBS Group lifted their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Barclays upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus 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.