Beacon Pointe Advisors LLC Sells 12,916 Shares of Alphabet Inc. (NASDAQ:GOOG)

Beacon Pointe Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 174,114 shares of the information services provider’s stock after selling 12,916 shares during the period. Beacon Pointe Advisors LLC’s holdings in Alphabet were worth $33,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Norges Bank purchased a new position in shares of Alphabet in the fourth quarter worth about $5,166,070,000. Raymond James Financial Inc. purchased a new position in Alphabet in the 4th quarter valued at approximately $1,551,533,000. GQG Partners LLC raised its holdings in Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after acquiring an additional 7,221,746 shares during the period. Capital International Investors lifted its position in shares of Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Alphabet by 5,712.8% in the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock valued at $831,810,000 after purchasing an additional 4,292,689 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.5 %

Shares of NASDAQ:GOOG opened at $163.85 on Monday. The stock’s 50-day moving average is $164.25 and its 200 day moving average is $177.35. The company has a market cap of $2.00 trillion, a PE ratio of 20.35, a P/E/G ratio of 1.34 and a beta of 1.04. 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 1 year low of $142.66 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.77. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock worth $25,361,647 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on GOOG shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. UBS Group lowered their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Scotiabank lowered their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $203.94.

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.