Rockport Wealth LLC Sells 500 Shares of Alphabet Inc. (NASDAQ:GOOG)

Rockport Wealth LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,865 shares of the information services provider’s stock after selling 500 shares during the period. Rockport Wealth LLC’s holdings in Alphabet were worth $736,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC increased its holdings 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 buying an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings 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 buying an additional 14,738 shares during the last quarter. Requisite Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter worth $927,000. Stevens Capital Management LP grew its holdings in shares of Alphabet by 172.9% during the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after purchasing an additional 57,810 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in Alphabet by 44.2% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,032,476 shares of the information services provider’s stock worth $172,620,000 after purchasing an additional 316,674 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,048 shares of company stock valued at $17,374,274. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GOOG shares. Scotiabank lifted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Trading Up 1.8 %

Shares of GOOG opened at $167.62 on Monday. Alphabet Inc. has a 1-year low of $141.13 and a 1-year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average price is $187.41 and its 200-day moving average price is $178.10. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data 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%. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Alphabet Company 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.