Denver PWM LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Denver PWM LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 13.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,299 shares of the information services provider’s stock after selling 194 shares during the period. Denver PWM LLC’s holdings in Alphabet were worth $247,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter valued at $27,000. Weiss Asset Management LP acquired a new stake in Alphabet in the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet in the 3rd quarter valued at approximately $33,000. FPC Investment Advisory Inc. increased its position in Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after purchasing an additional 167 shares during the period. Finally, Sanctuary Wealth Management L.L.C. raised 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 buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s 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 approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,299 shares of company stock valued at $25,055,751 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 2.1 %

Alphabet stock opened at $177.37 on Wednesday. The stock has a 50-day moving average price of $193.29 and a 200 day moving average price of $177.66. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The stock has a market cap of $2.16 trillion, a PE ratio of 22.03, a P/E/G ratio of 1.34 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank raised their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.