Glen Eagle Advisors LLC Sells 135 Shares of Alphabet Inc. (NASDAQ:GOOG)

Glen Eagle Advisors LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,556 shares of the information services provider’s stock after selling 135 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Alphabet were worth $1,249,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. GPS Wealth Strategies Group LLC lifted its position in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after purchasing an additional 1,041 shares during the last quarter. Harvest Investment Services LLC increased its stake in shares of Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after buying an additional 138 shares during the period. North Forty Two & Co. bought a new stake in Alphabet during the 4th quarter valued at $281,000. SageView Advisory Group LLC boosted its position in Alphabet by 140.6% during the 4th quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider’s stock valued at $2,806,000 after buying an additional 8,610 shares during the period. Finally, Requisite Capital Management LLC purchased a new stake in Alphabet during the 4th quarter valued at $927,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,744 shares of company stock valued at $20,968,366. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $165.32 on Wednesday. The firm has a market cap of $2.01 trillion, a P/E ratio of 20.54, a PEG ratio of 1.34 and a beta of 1.01. The company has a 50 day moving average of $160.18 and a 200 day moving average of $176.66. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. Alphabet’s dividend payout ratio is currently 9.36%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOOG. Susquehanna reiterated a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Finally, Morgan Stanley restated an “overweight” 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 assigned a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $203.94.

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.