New Century Financial Group LLC Has $367,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

New Century Financial Group LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,899 shares of the information services provider’s stock after selling 338 shares during the quarter. New Century Financial Group LLC’s holdings in Alphabet were worth $367,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Weiss Asset Management LP bought a new position in Alphabet during 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. HWG Holdings LP acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. grew its position in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC increased its holdings in Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GOOG. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Citigroup boosted their price target 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. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $201.90 on Friday. The company has a fifty day moving average price of $187.95 and a 200 day moving average price of $175.31. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $203.84. The firm has a market cap of $2.47 trillion, a PE ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. 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 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 business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the company earned $1.55 earnings per share. Research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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