Alphabet Inc. (NASDAQ:GOOG) is King Luther Capital Management Corp’s 7th Largest Position

King Luther Capital Management Corp lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,544,922 shares of the information services provider’s stock after selling 2,658 shares during the quarter. Alphabet accounts for 2.1% of King Luther Capital Management Corp’s portfolio, making the stock its 7th biggest holding. King Luther Capital Management Corp’s holdings in Alphabet were worth $484,655,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOG. Weiss Asset Management LP purchased a new stake in shares of Alphabet in the 3rd quarter worth $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet in the 3rd quarter worth $33,000. Sanctuary Wealth Management L.L.C. raised its position in shares of 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 in the last quarter. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the 4th quarter worth $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,606,213.28. The trade was a 8.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,182 shares of company stock valued at $18,192,354 over the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $167.81 on Tuesday. The company has a market capitalization of $2.05 trillion, a P/E ratio of 20.85, a P/E/G ratio of 1.34 and a beta of 1.03. The business’s 50 day moving average is $189.36 and its two-hundred day moving average is $178.09. 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 Inc. has a 12-month low of $137.07 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOG. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus 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.