Physician Wealth Advisors Inc. Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Physician Wealth Advisors Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,323 shares of the information services provider’s stock after selling 98 shares during the period. Physician Wealth Advisors Inc.’s holdings in Alphabet were worth $823,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Weiss Asset Management LP bought a new position in Alphabet during the 3rd quarter worth about $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the 3rd quarter worth approximately $33,000. WealthTrak Capital Management LLC acquired a new position in Alphabet during the fourth quarter valued at $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the fourth quarter worth about $39,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG opened at $156.06 on Friday. The firm has a market cap of $1.90 trillion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $181.53 and its 200-day moving average is $178.51. Alphabet Inc. has a 12 month low of $148.20 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This represents a 19.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,812 shares of company stock worth $19,336,979 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the company 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 research report on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Cantor Fitzgerald restated a “neutral” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $208.56.

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.