Guinness Atkinson Asset Management Inc Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Guinness Atkinson Asset Management Inc lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 20.0% during the 4th quarter, Holdings Channel reports. The firm owned 2,048 shares of the information services provider’s stock after selling 512 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Alphabet were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of GOOG. Redhawk Wealth Advisors Inc. raised its stake in shares of Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after buying an additional 54 shares during the period. 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 worth $495,000 after buying an additional 60 shares in 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 worth $395,000 after buying an additional 60 shares in the last quarter. Fortitude Family Office LLC grew its position in 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 buying an additional 60 shares in the last quarter. Finally, Phillips Financial Management LLC boosted 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 purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOG shares. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Citigroup increased their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on Alphabet from $182.00 to $187.00 and gave the stock 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 given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the sale, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.2 %

GOOG opened at $200.03 on Thursday. The firm 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. 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 business’s 50 day moving average is $186.56 and its two-hundred day moving average is $174.89. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84.

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

Alphabet Announces Dividend

The business 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 of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis 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.