Belmont Capital LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Belmont Capital LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 58.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,381 shares of the information services provider’s stock after selling 8,800 shares during the quarter. Belmont Capital LLC’s holdings in Alphabet were worth $1,215,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth $27,000. LSV Asset Management bought a new position in shares of Alphabet during the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet during the fourth quarter valued at approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.4 %

GOOG stock opened at $153.36 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The firm has a market cap of $1.87 trillion, a PE ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.04. The firm’s 50 day moving average price is $167.84 and its 200-day moving average price is $177.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. Alphabet’s payout ratio is currently 9.94%.

Analysts Set New Price Targets

GOOG has been the topic of several research analyst reports. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Wedbush reissued an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. UBS Group dropped their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Oppenheimer boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.88.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,663 shares of company stock valued at $20,286,447 over the last 90 days. 12.99% of the stock is owned by company insiders.

About Alphabet

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.