Lyell Wealth Management LP Sells 18,403 Shares of Alphabet Inc. (NASDAQ:GOOG)

Lyell Wealth Management LP lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 17.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,331 shares of the information services provider’s stock after selling 18,403 shares during the quarter. Alphabet comprises 1.4% of Lyell Wealth Management LP’s portfolio, making the stock its 17th largest holding. Lyell Wealth Management LP’s holdings in Alphabet were worth $16,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in GOOG. Weiss Asset Management LP bought a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet in the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. boosted its position in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, Maryland Capital Advisors Inc. boosted its position in shares of Alphabet by 33.0% in the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock valued at $51,000 after acquiring an additional 66 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $181.58 on Friday. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. The firm has a market cap of $2.21 trillion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The business has a fifty day moving average of $194.02 and a 200-day moving average of $177.34.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. Barclays raised 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. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Wells Fargo & Company raised their target price on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was 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 of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,299 shares of company stock worth $25,055,751. 12.99% of the stock is owned by corporate insiders.

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.