Roanoke Asset Management Corp NY Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Roanoke Asset Management Corp NY reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,840 shares of the information services provider’s stock after selling 500 shares during the quarter. Alphabet comprises 1.3% of Roanoke Asset Management Corp NY’s investment portfolio, making the stock its 28th biggest position. Roanoke Asset Management Corp NY’s holdings in Alphabet were worth $4,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOG. Fiduciary Advisors Inc. purchased a new position in Alphabet during the 4th quarter valued at about $27,000. Weiss Asset Management LP bought a new position in shares of Alphabet in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the third quarter valued at approximately $33,000. FPC Investment Advisory Inc. increased its holdings in Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after acquiring an additional 167 shares during the period. Finally, Sanctuary Wealth Management L.L.C. lifted its stake 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 worth $42,000 after purchasing an additional 117 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOOG shares. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Price Performance

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. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The business’s 50 day simple moving average is $191.63 and its two-hundred day simple moving average is $177.88. The stock has a market capitalization of $2.06 trillion, a P/E 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 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%. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed 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. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,316 shares of company stock worth $25,062,887. Company insiders own 12.99% of the company’s stock.

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.