Mitchell Mcleod Pugh & Williams Inc. Sells 2,500 Shares of Alphabet Inc. (NASDAQ:GOOG)

Mitchell Mcleod Pugh & Williams Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 14.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,351 shares of the information services provider’s stock after selling 2,500 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Alphabet were worth $2,733,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Zhang Financial LLC lifted its position in shares of Alphabet by 6.5% in the 4th quarter. Zhang Financial LLC now owns 14,466 shares of the information services provider’s stock worth $2,755,000 after purchasing an additional 883 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Alphabet by 5.2% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 238,750 shares of the information services provider’s stock worth $45,468,000 after purchasing an additional 11,714 shares during the period. Corundum Group Inc. lifted its position in shares of Alphabet by 26.1% in the 4th quarter. Corundum Group Inc. now owns 10,307 shares of the information services provider’s stock worth $1,963,000 after purchasing an additional 2,133 shares during the period. Maltin Wealth Management Inc. lifted its position in shares of Alphabet by 19.9% in the 4th quarter. Maltin Wealth Management Inc. now owns 1,812 shares of the information services provider’s stock worth $345,000 after purchasing an additional 301 shares during the period. Finally, AMI Investment Management Inc. lifted its position in shares of Alphabet by 2.9% in the 4th quarter. AMI Investment Management Inc. now owns 45,467 shares of the information services provider’s stock worth $8,659,000 after purchasing an additional 1,274 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 over the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $200.03 on Thursday. The firm has a 50 day moving average of $186.56 and a 200 day moving average of $174.89. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 26.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s payout ratio is currently 10.61%.

Analyst Ratings Changes

Several equities research analysts have recently commented on GOOG shares. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.