Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 370,413 shares of the information services provider’s stock after selling 3,044 shares during the quarter. Modera Wealth Management LLC’s holdings in Alphabet were worth $70,541,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. M&G PLC acquired a new position in Alphabet in the 3rd quarter valued at $2,240,000. GPS Wealth Strategies Group LLC increased its stake in shares of Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after acquiring an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $927,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOG. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,316 shares of company stock worth $25,062,887. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $172.61 on Wednesday. The business has a 50-day moving average of $191.13 and a 200 day moving average of $177.93. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The stock has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

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 return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

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.