Callan Capital LLC Sells 6,370 Shares of Alphabet Inc. (NASDAQ:GOOG)

Callan Capital LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.7% during the fourth quarter, HoldingsChannel reports. The firm owned 36,926 shares of the information services provider’s stock after selling 6,370 shares during the quarter. Callan Capital LLC’s holdings in Alphabet were worth $7,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Weiss Asset Management LP bought a new stake in Alphabet during the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the third quarter worth $33,000. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the period. Finally, Maryland Capital Advisors Inc. lifted its position in Alphabet by 33.0% in the 4th quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock valued at $51,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOG. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,299 shares of company stock valued at $25,055,751. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $177.37 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The business has a 50 day moving average of $193.29 and a 200-day moving average of $177.66. The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 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.