Luts & Greenleigh Group Inc. Sells 99 Shares of Alphabet Inc. (NASDAQ:GOOG)

Luts & Greenleigh Group Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,640 shares of the information services provider’s stock after selling 99 shares during the period. Alphabet makes up about 0.9% of Luts & Greenleigh Group Inc.’s portfolio, making the stock its 25th largest holding. Luts & Greenleigh Group Inc.’s holdings in Alphabet were worth $884,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GOOG. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after buying an additional 54 shares during the last quarter. Investment Advisory Group LLC boosted its stake in Alphabet by 0.7% in the fourth quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock valued at $1,463,000 after acquiring an additional 56 shares during the last quarter. Sunburst Financial Group LLC grew its position in shares of Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 60 shares during the period. Johnson Financial Group LLC increased its stake in shares of Alphabet by 2.6% during the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after purchasing an additional 60 shares during the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of Alphabet by 0.7% in the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock worth $1,585,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Oppenheimer raised their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Scotiabank increased their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday. Canaccord Genuity Group boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on 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 owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $201.90 on Friday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $2.47 trillion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The firm’s fifty day moving average price is $187.39 and its 200-day moving average price is $175.23.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.55 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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.