MRA Advisory Group Sells 1,031 Shares of Alphabet Inc. (NASDAQ:GOOG)

MRA Advisory Group lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.8% during the fourth quarter, Holdings Channel reports. The firm owned 10,655 shares of the information services provider’s stock after selling 1,031 shares during the period. Alphabet makes up approximately 1.1% of MRA Advisory Group’s portfolio, making the stock its 20th largest position. MRA Advisory Group’s holdings in Alphabet were worth $2,029,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GOOG. Weiss Asset Management LP purchased a new stake in Alphabet in the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet in the third quarter valued at approximately $33,000. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. HWG Holdings LP bought a new stake in Alphabet during the second quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its position in 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 worth $42,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of several research analyst reports. Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer increased their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 130,553 shares of company stock worth $23,817,951 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Down 0.6 %

Shares of Alphabet stock opened at $191.05 on Wednesday. The company’s 50-day moving average price is $184.95 and its 200-day moving average price is $174.55. The company has a market cap of $2.34 trillion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $202.88. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

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

Alphabet Dividend Announcement

The firm 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. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet 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.