Selective Wealth Management Inc. Has $395,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Selective Wealth Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,068 shares of the information services provider’s stock after selling 110 shares during the period. Selective Wealth Management Inc.’s holdings in Alphabet were worth $395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC grew its stake in Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after purchasing an additional 3,113,395 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after purchasing an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after buying an additional 264,962 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.6 %

Shares of Alphabet stock opened at $197.55 on Monday. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88. The firm has a market capitalization of $2.42 trillion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s fifty day moving average price is $185.92 and its two-hundred day moving average price is $174.85.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock worth $24,368,654 in the last 90 days. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group increased their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.