Alphabet Inc. (NASDAQ:GOOG) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 268,049 shares of the information services provider’s stock after selling 6,033 shares during the period. Alphabet accounts for about 1.8% of FineMark National Bank & Trust’s portfolio, making the stock its 10th largest position. FineMark National Bank & Trust’s holdings in Alphabet were worth $51,047,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter worth $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter worth $27,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth about $33,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $169.93 on Tuesday. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 21.11, a PEG ratio of 1.34 and a beta of 1.03. 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 business’s fifty day moving average price is $183.93 and its 200 day moving average price is $178.30. Alphabet Inc. has a twelve month low of $148.20 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its 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%. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analysts Set New Price Targets

Several research firms have recently commented on GOOG. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer upped their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is currently owned by corporate insiders.

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.