Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Overbrook Management Corp

Overbrook Management Corp cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,217 shares of the information services provider’s stock after selling 7,242 shares during the period. Alphabet accounts for about 6.2% of Overbrook Management Corp’s investment portfolio, making the stock its 4th biggest holding. Overbrook Management Corp’s holdings in Alphabet were worth $28,988,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $33,000. Abich Financial Wealth Management LLC boosted its stake in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. HWG Holdings LP bought a new position in shares of Alphabet during the 2nd quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its stake in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Oppenheimer lifted their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. UBS Group boosted their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research boosted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Price Performance

Alphabet stock opened at $200.03 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84. The stock has a market capitalization of $2.45 trillion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The stock has a fifty day moving average of $186.56 and a 200-day moving average of $174.89.

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

Alphabet Announces Dividend

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

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.