Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,672 shares of the information services provider’s stock after selling 2,054 shares during the period. Alphabet accounts for approximately 3.6% of Carret Asset Management LLC’s portfolio, making the stock its 5th biggest position. Carret Asset Management LLC’s holdings in Alphabet were worth $33,074,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter worth about $25,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth about $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter worth about $33,000. Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the fourth quarter worth about $43,000. Finally, FPC Investment Advisory Inc. lifted its position in shares of Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,882 shares of company stock worth $17,934,130 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $164.73 on Friday. The business’s 50-day moving average price is $187.92 and its two-hundred day moving average price is $177.92. Alphabet Inc. has a 1 year low of $141.13 and a 1 year high of $208.70. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 20.46, a P/E/G ratio of 1.34 and a beta of 1.03. 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 (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities 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 issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of analyst reports. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Oppenheimer lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $209.13.

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.