PFC Capital Group Inc. Sells 125 Shares of Alphabet Inc. (NASDAQ:GOOG)

PFC Capital Group Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,790 shares of the information services provider’s stock after selling 125 shares during the quarter. Alphabet makes up approximately 1.3% of PFC Capital Group Inc.’s holdings, making the stock its 19th biggest holding. PFC Capital Group Inc.’s holdings in Alphabet were worth $2,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Principal Financial Group Inc. grew its position in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after buying an additional 264,962 shares in the last quarter. Martingale Asset Management L P purchased a new stake in Alphabet in the third quarter worth about $505,000. Kestra Investment Management LLC bought a new position in Alphabet during the 3rd quarter worth about $526,000. Atom Investors LP increased its position in Alphabet by 8.9% during the 3rd quarter. Atom Investors LP now owns 16,517 shares of the information services provider’s stock valued at $2,761,000 after purchasing an additional 1,348 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in shares of Alphabet by 1,733.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 123,192 shares of the information services provider’s stock valued at $20,596,000 after purchasing an additional 116,472 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was 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 of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, 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 three months, insiders have sold 87,992 shares of company stock valued at $16,093,773. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $208.56.

Alphabet Stock Up 0.1 %

Shares of GOOG stock opened at $156.23 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $148.20 and a fifty-two week high of $208.70. The firm has a market capitalization of $1.90 trillion, a PE ratio of 19.41, a P/E/G ratio of 1.34 and a beta of 1.03. The stock’s 50-day simple moving average is $180.70 and its 200-day simple moving average is $178.70.

Alphabet (NASDAQ:GOOG) last posted 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%. Equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

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.