Alphabet Inc. $GOOG Holdings Cut by Ramsay Stattman Vela & Price Inc.

Ramsay Stattman Vela & Price Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,093 shares of the information services provider’s stock after selling 4,164 shares during the period. Alphabet comprises approximately 5.5% of Ramsay Stattman Vela & Price Inc.’s holdings, making the stock its 4th biggest holding. Ramsay Stattman Vela & Price Inc.’s holdings in Alphabet were worth $30,468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Imprint Wealth LLC purchased a new stake in Alphabet during the 3rd quarter worth $31,000. Manning & Napier Advisors LLC purchased a new stake in Alphabet during the 3rd quarter worth $32,000. Tripletail Wealth Management LLC purchased a new stake in Alphabet during the 3rd quarter worth $40,000. Lynch Asset Management Inc. purchased a new stake in Alphabet during the 3rd quarter worth $61,000. Finally, Winnow Wealth LLC purchased a new stake in Alphabet during the 3rd quarter worth $63,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 1.5%

NASDAQ GOOG opened at $330.47 on Wednesday. Alphabet Inc. has a one year low of $149.49 and a one year high of $350.15. The company has a 50-day simple moving average of $306.44 and a 200-day simple moving average of $303.52. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market capitalization of $4.00 trillion, a PE ratio of 30.57, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. The firm had revenue of $113.83 billion during the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. Alphabet’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.15 EPS. On average, equities analysts forecast that Alphabet Inc. will post 11.53 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, March 9th. Alphabet’s payout ratio is presently 7.77%.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

Analyst Ratings Changes

GOOG has been the topic of several analyst reports. Canaccord Genuity Group lifted their price target on shares of Alphabet from $330.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Pivotal Research reissued a “buy” rating and set a $420.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, February 5th. Sanford C. Bernstein reissued a “market perform” rating and set a $345.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Piper Sandler reissued an “overweight” rating and set a $395.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a report on Tuesday, January 20th. Eight research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus target price of $346.03.

Get Our Latest Research Report on GOOG

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $303.41, for a total transaction of $318,580.50. Following the completion of the transaction, the director directly owned 4,631 shares of the company’s stock, valued at $1,405,091.71. The trade was a 18.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 955 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares of the company’s stock, valued at $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,037,294 shares of company stock worth $94,216,897 over the last three months. Insiders own 12.99% of the company’s stock.

About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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