Gryphon Financial Partners LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

Gryphon Financial Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,953 shares of the information services provider’s stock after selling 5,058 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Alphabet were worth $3,038,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Sterling Financial Planning Inc. raised its holdings in shares of Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after buying an additional 50 shares during the period. Arlington Trust Co LLC raised its holdings in shares of Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after buying an additional 52 shares during the period. Harrell Investment Partners LLC raised its holdings in shares of Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after buying an additional 53 shares during the period. Redhawk Wealth Advisors Inc. raised its holdings 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 buying an additional 54 shares during the period. Finally, Tempus Wealth Planning LLC raised its holdings in shares of Alphabet by 1.7% during the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock valued at $636,000 after buying an additional 55 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,316 shares of company stock valued at $25,062,887. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Oppenheimer lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Price Performance

Shares of GOOG opened at $174.99 on Thursday. Alphabet Inc. has a 12 month low of $131.95 and a 12 month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a fifty day moving average price of $190.68 and a 200 day moving average price of $177.91. The company has a market cap of $2.13 trillion, a P/E ratio of 21.74, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. On average, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

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.