Welch Capital Partners LLC NY Sells 133 Shares of Alphabet Inc. (NASDAQ:GOOG)

Welch Capital Partners LLC NY reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 142,233 shares of the information services provider’s stock after selling 133 shares during the quarter. Alphabet comprises 5.8% of Welch Capital Partners LLC NY’s holdings, making the stock its 4th largest holding. Welch Capital Partners LLC NY’s holdings in Alphabet were worth $27,087,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GOOG. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $27,000. LSV Asset Management bought a new position in Alphabet in the 4th quarter worth about $27,000. WealthTrak Capital Management LLC bought a new position in Alphabet during the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOOG shares. Westpark Capital reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $203.94.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,824 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,815,948.32. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock worth $30,153,353 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.2%

NASDAQ:GOOG opened at $167.43 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a fifty day moving average price of $160.19 and a 200-day moving average price of $176.77. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is 9.36%.

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.