Rockbridge Investment Management LCC Trims Position in Alphabet Inc. (NASDAQ:GOOG)

Rockbridge Investment Management LCC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 22.2% during the 4th quarter, HoldingsChannel reports. The fund owned 2,600 shares of the information services provider’s stock after selling 742 shares during the quarter. Rockbridge Investment Management LCC’s holdings in Alphabet were worth $495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new position in Alphabet during the third quarter worth about $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the 3rd quarter worth approximately $33,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC purchased a new stake in Alphabet in the fourth quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank boosted their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Finally, Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $167.14 on Thursday. The stock has a market cap of $2.04 trillion, a P/E ratio of 20.76, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a twelve month low of $148.20 and a twelve month high of $208.70. The stock has a 50 day moving average of $182.96 and a two-hundred day moving average of $178.36. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,048 shares of company stock valued at $17,374,274. Company insiders own 12.99% of the company’s stock.

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.