Alphabet Inc. (NASDAQ:GOOG) is Stevens Capital Management LP’s 10th Largest Position

Stevens Capital Management LP reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 80.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,510 shares of the information services provider’s stock after selling 73,727 shares during the period. Alphabet makes up approximately 1.3% of Stevens Capital Management LP’s portfolio, making the stock its 10th largest position. Stevens Capital Management LP’s holdings in Alphabet were worth $3,335,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $27,000. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter valued at approximately $33,000. Noble Wealth Management PBC acquired a new position in Alphabet during the fourth quarter worth $43,000. Finally, FPC Investment Advisory Inc. boosted its position in Alphabet by 287.9% during the fourth 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 in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GOOG shares. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank raised their price target 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, Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Up 0.7 %

GOOG opened at $166.25 on Friday. 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 stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The business has a 50-day moving average of $184.37 and a two-hundred day moving average of $178.07. Alphabet Inc. has a 12 month low of $148.20 and a 12 month high of $208.70.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock valued at $17,374,274 in the last three months. 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.