Morton Capital Management LLC CA Sells 179 Shares of Alphabet Inc. (NASDAQ:GOOG)

Morton Capital Management LLC CA decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,217 shares of the information services provider’s stock after selling 179 shares during the quarter. Alphabet makes up approximately 0.4% of Morton Capital Management LLC CA’s portfolio, making the stock its 25th largest position. Morton Capital Management LLC CA’s holdings in Alphabet were worth $1,946,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOG. Beck Bode LLC lifted its holdings in Alphabet by 7.1% during the second quarter. Beck Bode LLC now owns 67,523 shares of the information services provider’s stock worth $12,385,000 after acquiring an additional 4,456 shares during the period. WCG Wealth Advisors LLC grew its position in shares of Alphabet by 20.3% during the 2nd quarter. WCG Wealth Advisors LLC now owns 26,937 shares of the information services provider’s stock valued at $4,941,000 after acquiring an additional 4,539 shares during the period. Concorde Asset Management LLC purchased a new stake in shares of Alphabet during the 2nd quarter worth approximately $218,000. Somerset Group LLC lifted its stake in Alphabet by 1.5% in the second quarter. Somerset Group LLC now owns 10,501 shares of the information services provider’s stock valued at $1,926,000 after purchasing an additional 156 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC grew its holdings in Alphabet by 33.5% during the second quarter. Mark Sheptoff Financial Planning LLC now owns 801 shares of the information services provider’s stock valued at $147,000 after purchasing an additional 201 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock valued at $24,368,654 over the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $197.55 on Friday. The stock has a market cap of $2.42 trillion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 1.21 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 Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The firm’s fifty day moving average price is $185.56 and its 200-day moving average price is $174.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.03 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. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

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. Citigroup lifted their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.