Shikiar Asset Management Inc. Has $16.65 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Shikiar Asset Management Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,452 shares of the information services provider’s stock after selling 3,105 shares during the period. Alphabet comprises approximately 4.4% of Shikiar Asset Management Inc.’s portfolio, making the stock its 3rd biggest holding. Shikiar Asset Management Inc.’s holdings in Alphabet were worth $16,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Redhawk Wealth Advisors Inc. increased its position in shares of 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 during the last quarter. Sunburst Financial Group LLC grew its position in Alphabet by 2.1% during the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 60 shares during the last quarter. Johnson Financial Group LLC grew its position in Alphabet by 2.6% during the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after acquiring an additional 60 shares during the last quarter. Fortitude Family Office LLC raised its stake in shares of Alphabet by 0.7% during the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock worth $1,585,000 after acquiring an additional 60 shares in the last quarter. Finally, Phillips Financial Management LLC lifted its holdings in shares of Alphabet by 1.6% in the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after acquiring an additional 61 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $197.55 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average price is $185.92 and its 200-day moving average price is $174.85. The stock has a market cap of $2.42 trillion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $202.88.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. The business’s revenue was up 15.1% compared to the same quarter last year. On average, equities analysts expect that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GOOG shares. UBS Group lifted their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.