Patten & Patten Inc. TN Has $16.28 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Patten & Patten Inc. TN cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,468 shares of the information services provider’s stock after selling 2,408 shares during the period. Alphabet makes up approximately 1.1% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 21st largest holding. Patten & Patten Inc. TN’s holdings in Alphabet were worth $16,276,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Alphabet in the fourth quarter valued at about $1,551,533,000. FMR LLC grew its stake in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. Proficio Capital Partners LLC grew its stake in 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 acquiring an additional 4,292,689 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Alphabet by 182.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after acquiring an additional 1,630,701 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, 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 have sold 95,882 shares of company stock worth $17,934,130 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $167.62 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. The stock’s 50 day moving average price is $187.41 and its two-hundred day moving average price is $178.00. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $141.13 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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%. On average, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOG. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

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.