Connable Office Inc. Sells 514 Shares of Alphabet Inc. (NASDAQ:GOOG)

Connable Office Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 27,186 shares of the information services provider’s stock after selling 514 shares during the period. Alphabet accounts for approximately 0.5% of Connable Office Inc.’s investment portfolio, making the stock its 28th biggest position. Connable Office Inc.’s holdings in Alphabet were worth $5,177,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Sterling Financial Planning Inc. increased its holdings in Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 50 shares during the period. Arlington Trust Co LLC increased its holdings in Alphabet by 0.4% in the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after purchasing an additional 52 shares during the period. Harrell Investment Partners LLC increased its holdings in Alphabet by 0.9% in the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 53 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in 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 purchasing an additional 54 shares during the period. Finally, Tempus Wealth Planning LLC increased its holdings in Alphabet by 1.7% in the fourth quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock valued at $636,000 after purchasing an additional 55 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $168.66 on Tuesday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s 50-day simple moving average is $191.63 and its 200 day simple moving average is $177.88.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is 9.94%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush restated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Scotiabank increased their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Benchmark reiterated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on 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 of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,316 shares of company stock valued at $25,062,887. 12.99% of the stock is owned by corporate insiders.

About Alphabet

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.