Invenio Wealth Partners LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

Invenio Wealth Partners LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,060 shares of the information services provider’s stock after selling 320 shares during the period. Invenio Wealth Partners LLC’s holdings in Alphabet were worth $392,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter valued at $27,000. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the third quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter valued at about $33,000. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Alphabet during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG opened at $156.23 on Tuesday. The stock’s 50-day moving average price is $180.70 and its 200 day moving average price is $178.70. Alphabet Inc. has a 12-month low of $148.20 and a 12-month high of $208.70. The firm has a market cap of $1.90 trillion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.34 and a beta of 1.03. 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 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%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is presently 9.94%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,992 shares of company stock worth $16,093,773 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Scotiabank raised their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued 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 given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.56.

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.