Alphabet Inc. (NASDAQ:GOOG) Shares Sold by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,564 shares of the information services provider’s stock after selling 4,293 shares during the period. Alphabet makes up about 3.5% of DORCHESTER WEALTH MANAGEMENT Co’s investment portfolio, making the stock its 3rd biggest holding. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Alphabet were worth $17,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Weiss Asset Management LP purchased a new position in Alphabet in the 3rd quarter valued at about $25,000. Fiduciary Advisors Inc. purchased a new position in Alphabet in the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. boosted its position in 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 during the last quarter. Finally, FPC Investment Advisory Inc. boosted its position in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after buying an additional 167 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,299 shares of company stock worth $25,055,751. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $174.70 on Thursday. The firm’s 50 day moving average is $192.98 and its two-hundred day moving average is $177.64. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The firm has a market capitalization of $2.13 trillion, a P/E ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. Canaccord Genuity Group upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citigroup increased their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Company 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.