Cobblestone Capital Advisors LLC NY Sells 6,300 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cobblestone Capital Advisors LLC NY trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,699 shares of the information services provider’s stock after selling 6,300 shares during the period. Alphabet comprises 2.6% of Cobblestone Capital Advisors LLC NY’s investment portfolio, making the stock its 9th biggest holding. Cobblestone Capital Advisors LLC NY’s holdings in Alphabet were worth $47,172,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GOOG. Swedbank AB lifted its stake in shares of Alphabet by 0.6% in the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after purchasing an additional 51,226 shares during the period. Janney Capital Management LLC lifted its stake in shares of Alphabet by 18.2% in the third quarter. Janney Capital Management LLC now owns 13,456 shares of the information services provider’s stock valued at $2,250,000 after purchasing an additional 2,069 shares during the period. Allen Wealth Management LLC lifted its stake in shares of Alphabet by 6.4% in the third quarter. Allen Wealth Management LLC now owns 1,332 shares of the information services provider’s stock valued at $223,000 after purchasing an additional 80 shares during the period. GFS Advisors LLC lifted its stake in shares of Alphabet by 10,976.6% in the third quarter. GFS Advisors LLC now owns 35,556 shares of the information services provider’s stock valued at $5,945,000 after purchasing an additional 35,235 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Alphabet by 11.0% in the third quarter. Van ECK Associates Corp now owns 547,237 shares of the information services provider’s stock valued at $90,010,000 after purchasing an additional 54,262 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 2.1 %

Shares of GOOG stock opened at $168.66 on Tuesday. The firm has a market cap of $2.06 trillion, a P/E ratio of 20.95, a PEG ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm’s 50-day simple moving average is $191.63 and its 200-day simple moving average is $177.88.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,316 shares of company stock worth $25,062,887. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GOOG. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank increased their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

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.