Bigelow Investment Advisors LLC Sells 932 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bigelow Investment Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,898 shares of the information services provider’s stock after selling 932 shares during the quarter. Alphabet comprises about 1.1% of Bigelow Investment Advisors LLC’s holdings, making the stock its 22nd largest position. Bigelow Investment Advisors LLC’s holdings in Alphabet were worth $2,266,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Timber Creek Capital Management LLC grew its stake in Alphabet by 1.1% during the fourth quarter. Timber Creek Capital Management LLC now owns 68,915 shares of the information services provider’s stock valued at $13,124,000 after acquiring an additional 721 shares in the last quarter. Allied Investment Advisors LLC bought a new position in Alphabet in the 4th quarter valued at $227,000. Atlas Legacy Advisors LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $4,203,000. Bank of Jackson Hole Trust bought a new position in shares of Alphabet in the fourth quarter worth $738,000. Finally, Klingman & Associates LLC increased its holdings in shares of Alphabet by 2.2% in the fourth quarter. Klingman & Associates LLC now owns 26,741 shares of the information services provider’s stock worth $5,093,000 after purchasing an additional 585 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Citigroup increased their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Down 2.7 %

Shares of NASDAQ:GOOG opened at $181.58 on Friday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. 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’s 50-day moving average price is $194.02 and its 200-day moving average price is $177.22. The stock has a market capitalization of $2.21 trillion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,299 shares of company stock worth $25,055,751 in the last three months. 12.99% of the stock is owned by 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.