Denali Advisors LLC Sells 933 Shares of Alphabet Inc. (NASDAQ:GOOG)

Denali Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 116,963 shares of the information services provider’s stock after selling 933 shares during the quarter. Alphabet accounts for about 2.3% of Denali Advisors LLC’s portfolio, making the stock its 5th biggest holding. Denali Advisors LLC’s holdings in Alphabet were worth $22,274,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sterling Financial Planning Inc. boosted its stake in Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC boosted its stake in Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after purchasing an additional 52 shares during the last quarter. Harrell Investment Partners LLC boosted its stake in Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after purchasing an additional 53 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after purchasing an additional 54 shares during the last quarter. Finally, Tempus Wealth Planning LLC boosted its stake in Alphabet by 1.7% during the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock worth $636,000 after purchasing an additional 55 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.2 %

Shares of NASDAQ:GOOG opened at $172.22 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $2.10 trillion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The firm’s 50-day moving average is $192.17 and its two-hundred day moving average is $177.65. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insiders Place Their Bets

In related news, insider Ruth Porat sold 17,690 shares of the company’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 sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now 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 disclosure for this sale can be found here. Insiders have sold 134,309 shares of company stock worth $25,057,490 over the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOG. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price 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.