Alphabet Inc. (NASDAQ:GOOG) Stock Position Reduced by Pegasus Asset Management Inc.

Pegasus Asset Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,466 shares of the information services provider’s stock after selling 364 shares during the period. Alphabet makes up 4.3% of Pegasus Asset Management Inc.’s holdings, making the stock its 4th biggest holding. Pegasus Asset Management Inc.’s holdings in Alphabet were worth $11,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Strata Wealth Advisors LLC increased its position in shares of Alphabet by 0.3% during the fourth quarter. Strata Wealth Advisors LLC now owns 22,130 shares of the information services provider’s stock valued at $4,214,000 after acquiring an additional 77 shares during the last quarter. TKG Advisors LLC increased its position in shares of Alphabet by 48.6% during the fourth quarter. TKG Advisors LLC now owns 3,888 shares of the information services provider’s stock valued at $785,000 after acquiring an additional 1,271 shares during the last quarter. Werba Rubin Papier Wealth Management increased its position in shares of Alphabet by 66.8% during the fourth quarter. Werba Rubin Papier Wealth Management now owns 14,289 shares of the information services provider’s stock valued at $2,721,000 after acquiring an additional 5,725 shares during the last quarter. Financial Management Network Inc. increased its position in shares of Alphabet by 1.3% during the fourth quarter. Financial Management Network Inc. now owns 17,783 shares of the information services provider’s stock valued at $3,434,000 after acquiring an additional 228 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in shares of Alphabet by 15.2% during the fourth quarter. Global Retirement Partners LLC now owns 83,091 shares of the information services provider’s stock valued at $15,824,000 after acquiring an additional 10,960 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,299 shares of company stock worth $25,055,751. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citigroup lifted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Trading Down 2.7 %

NASDAQ GOOG opened at $181.58 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The stock has a market capitalization of $2.21 trillion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The firm has a 50 day moving average of $194.02 and a two-hundred day moving average of $177.34.

Alphabet (NASDAQ:GOOG) last posted its quarterly 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%. As a group, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is presently 9.94%.

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.