Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 33.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,502 shares of the information services provider’s stock after selling 4,843 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Alphabet were worth $1,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter valued at approximately $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the 3rd quarter valued at approximately $33,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $38,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet in the fourth quarter worth $39,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Scotiabank increased their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Westpark Capital assumed coverage on Alphabet in a research note on Tuesday. They issued a “buy” rating and a $210.00 price target for the company. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $208.65.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 88,665 shares of company stock valued at $16,198,310. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

GOOG stock opened at $158.88 on Wednesday. The company has a market capitalization of $1.94 trillion, a P/E ratio of 19.74, a PEG ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $179.89 and a 200 day simple moving average of $178.70. Alphabet Inc. has a fifty-two week low of $148.20 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

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.