Alphabet Inc. (NASDAQ:GOOG) Stock Position Cut by Roberts Wealth Advisors LLC

Roberts Wealth Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 82,597 shares of the information services provider’s stock after selling 647 shares during the quarter. Alphabet makes up 4.9% of Roberts Wealth Advisors LLC’s portfolio, making the stock its 4th largest holding. Roberts Wealth Advisors LLC’s holdings in Alphabet were worth $16,270,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. boosted its stake in shares of Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares during the period. Sunburst Financial Group LLC boosted its stake in shares of Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 60 shares during the period. Johnson Financial Group LLC boosted its stake in shares of Alphabet by 2.6% in the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 60 shares during the period. Fortitude Family Office LLC boosted its stake in shares of Alphabet by 0.7% in the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after purchasing an additional 60 shares during the period. Finally, Phillips Financial Management LLC boosted its stake in shares of Alphabet by 1.6% in the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock valued at $644,000 after purchasing an additional 61 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction 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 sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $199.58 on Friday. The firm’s fifty day simple moving average is $186.95 and its 200-day simple moving average is $175.06. The stock has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $203.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS 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 company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

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

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.