Bear Mountain Capital Inc. Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bear Mountain Capital Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,127 shares of the information services provider’s stock after selling 309 shares during the period. Bear Mountain Capital Inc.’s holdings in Alphabet were worth $225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Financial Planning Inc. raised its holdings in shares of Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after acquiring an additional 50 shares during the last quarter. Arlington Trust Co LLC increased its stake in Alphabet by 0.4% in the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after purchasing an additional 52 shares during the last quarter. Harrell Investment Partners LLC increased its stake in Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after acquiring an additional 53 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its stake in Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares during the last quarter. Finally, Tempus Wealth Planning LLC increased its stake in Alphabet by 1.7% during the fourth quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock worth $636,000 after acquiring an additional 55 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Down 2.7 %

NASDAQ GOOG opened at $181.58 on Monday. The business has a 50 day simple moving average of $194.02 and a 200 day simple moving average of $177.45. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The stock has a market capitalization of $2.21 trillion, a P/E ratio of 22.56, a P/E/G ratio of 1.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Activity at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet 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 completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,299 shares of company stock valued at $25,055,751. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Oppenheimer increased their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank increased their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Finally, Canaccord Genuity Group raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

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.