Pine Valley Investments Ltd Liability Co Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Pine Valley Investments Ltd Liability Co reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,411 shares of the information services provider’s stock after selling 3,993 shares during the quarter. Alphabet makes up approximately 1.2% of Pine Valley Investments Ltd Liability Co’s investment portfolio, making the stock its 11th biggest position. Pine Valley Investments Ltd Liability Co’s holdings in Alphabet were worth $20,836,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Weiss Asset Management LP bought a new position in shares of Alphabet in the third quarter worth about $25,000. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet in the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in 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 valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, FPC Investment Advisory Inc. lifted its holdings in Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer increased their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Scotiabank boosted their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Insiders Place Their Bets

In other news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value 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 $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,188 shares of company stock valued at $25,036,883. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $170.21 on Friday. The firm has a market cap of $2.07 trillion, a price-to-earnings ratio of 21.14, a PEG ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. 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 50 day moving average is $192.59 and its 200 day moving average is $177.59.

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 analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

About Alphabet

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.