Alphabet Inc. (NASDAQ:GOOG) is Kelleher Financial Advisors’ 6th Largest Position

Kelleher Financial Advisors lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,648 shares of the information services provider’s stock after selling 4,243 shares during the period. Alphabet makes up 4.2% of Kelleher Financial Advisors’ portfolio, making the stock its 6th biggest position. Kelleher Financial Advisors’ holdings in Alphabet were worth $11,169,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GOOG. Weiss Asset Management LP acquired a new position in shares of Alphabet during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $33,000. HWG Holdings LP acquired a new position in Alphabet during the 2nd quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. boosted its holdings in Alphabet by 87.3% in 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. Finally, Iron Horse Wealth Management LLC grew its position in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOG shares. Scotiabank upped their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer increased their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price objective on Alphabet from $220.00 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, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.13.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock worth $24,368,654. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG opened at $201.90 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $187.39 and its 200 day moving average price is $175.23. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The firm has a market cap of $2.47 trillion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the firm earned $1.55 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 8.02 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. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.