Adero Partners LLC Sells 499 Shares of Alphabet Inc. (NASDAQ:GOOG)

Adero Partners LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 70,340 shares of the information services provider’s stock after selling 499 shares during the period. Alphabet makes up 0.9% of Adero Partners LLC’s holdings, making the stock its 22nd largest position. Adero Partners LLC’s holdings in Alphabet were worth $13,396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fiduciary Advisors Inc. acquired a new position in Alphabet during the fourth quarter valued at approximately $27,000. Weiss Asset Management LP bought a new position in shares of Alphabet during the third quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. increased its position in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC raised its stake 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 worth $57,000 after buying an additional 84 shares during the period. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank increased their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Price Performance

Shares of GOOG opened at $187.14 on Monday. The company has a market cap of $2.29 trillion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.39 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $193.12 and its 200 day simple moving average is $176.13. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. The trade was a 5.49 % 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 hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is owned by company insiders.

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.