Weik Capital Management Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Weik Capital Management lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,588 shares of the information services provider’s stock after selling 630 shares during the quarter. Alphabet comprises approximately 5.8% of Weik Capital Management’s holdings, making the stock its 4th largest position. Weik Capital Management’s holdings in Alphabet were worth $14,204,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares during the period. Quantbot Technologies LP acquired a new stake in Alphabet in the 3rd quarter worth $1,445,000. Cynosure Group LLC increased its holdings in shares of Alphabet by 42.8% during the 3rd quarter. Cynosure Group LLC now owns 3,861 shares of the information services provider’s stock worth $646,000 after purchasing an additional 1,158 shares during the period. CreativeOne Wealth LLC raised its position in shares of Alphabet by 42.9% during the third quarter. CreativeOne Wealth LLC now owns 19,288 shares of the information services provider’s stock valued at $3,225,000 after buying an additional 5,791 shares during the last quarter. Finally, Providence Capital Advisors LLC raised its position in shares of Alphabet by 6.5% during the third quarter. Providence Capital Advisors LLC now owns 92,977 shares of the information services provider’s stock valued at $15,545,000 after buying an additional 5,644 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $164.08 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.00 trillion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock’s 50-day moving average price is $182.36 and its two-hundred day moving average price is $178.26. Alphabet Inc. has a 1 year low of $148.20 and a 1 year high of $208.70.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Analyst Ratings Changes

Several equities analysts have commented on GOOG shares. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now directly owns 21,824 shares in the company, valued at $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,812 shares of company stock worth $19,336,979. Corporate insiders own 12.99% of the company’s stock.

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.