Conservest Capital Advisors Inc. Sells 406 Shares of Alphabet Inc. (NASDAQ:GOOG)

Conservest Capital Advisors Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,002 shares of the information services provider’s stock after selling 406 shares during the quarter. Conservest Capital Advisors Inc.’s holdings in Alphabet were worth $953,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. M&G PLC purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $2,240,000. GPS Wealth Strategies Group LLC lifted its position in shares of Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. Coldstream Capital Management Inc. lifted its position in shares of Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC lifted its position in shares of Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after purchasing an additional 4,292 shares during the period. Finally, Requisite Capital Management LLC purchased a new stake in Alphabet during the fourth quarter valued at approximately $927,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GOOG. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Trading Down 2.1 %

Shares of Alphabet stock opened at $168.66 on Tuesday. 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 fifty day moving average price of $191.63 and a 200 day moving average price of $177.88. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The stock has a market cap of $2.06 trillion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00.

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, topping 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%. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction 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 completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,316 shares of company stock valued at $25,062,887. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.