Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 4th quarter, Holdings Channel reports. The firm owned 843,597 shares of the information services provider’s stock after selling 2,335 shares during the quarter. Alphabet accounts for approximately 5.2% of Perfromance Wealth Partners LLC’s portfolio, making the stock its 6th biggest position. Perfromance Wealth Partners LLC’s holdings in Alphabet were worth $160,655,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter valued at about $25,000. Abich Financial Wealth Management LLC lifted its stake in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter valued at about $33,000. HWG Holdings LP acquired a new stake in shares of Alphabet in the second quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted its stake in shares of Alphabet by 87.3% in 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 during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOG. Scotiabank began coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price for the company. Wells Fargo & Company raised their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Citigroup raised their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Price Performance

Alphabet stock opened at $199.58 on Friday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The firm has a 50 day moving average price of $186.95 and a 200 day moving average price of $175.06. The company has a market cap of $2.44 trillion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

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

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last ninety days. Corporate 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.