Culbertson A N & Co. Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,722 shares of the information services provider’s stock after selling 456 shares during the period. Alphabet accounts for 2.1% of Culbertson A N & Co. Inc.’s investment portfolio, making the stock its 8th biggest holding. Culbertson A N & Co. Inc.’s holdings in Alphabet were worth $13,278,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Weiss Asset Management LP bought a new position in Alphabet during the third quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the 3rd quarter worth $33,000. Abich Financial Wealth Management LLC increased its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the period. HWG Holdings LP acquired a new position in shares of Alphabet during the second quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted its stake in shares of 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 buying an additional 117 shares during the period. 27.26% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several brokerages recently issued reports on GOOG. UBS Group boosted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group upped their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Six 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.56.
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. This trade represents a 13.70 % 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, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 over the last 90 days. 12.99% of the stock is owned by insiders.
Alphabet Stock Up 0.2 %
Shares of NASDAQ GOOG opened at $200.03 on Thursday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. The firm’s 50-day simple moving average is $186.56 and its 200 day simple moving average is $174.89. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.45 trillion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.
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.
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