Curi RMB Capital LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Curi RMB Capital LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,520 shares of the information services provider’s stock after selling 24,218 shares during the quarter. Alphabet accounts for 1.4% of Curi RMB Capital LLC’s portfolio, making the stock its 11th largest position. Curi RMB Capital LLC’s holdings in Alphabet were worth $62,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. Fiduciary Advisors Inc. bought a new stake in Alphabet in the fourth quarter worth $27,000. LSV Asset Management purchased a new position in Alphabet in the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet in the 4th quarter worth $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the fourth quarter valued at about $43,000. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GOOG shares. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. UBS Group lowered their target price on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, KeyCorp dropped their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.88.

Alphabet Price Performance

Shares of GOOG opened at $153.36 on Friday. The company has a market capitalization of $1.87 trillion, a P/E ratio of 19.05, a P/E/G ratio of 1.34 and a beta of 1.04. The business’s 50-day moving average is $167.16 and its two-hundred day moving average is $177.47. 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 Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.

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

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the transaction, the chief executive officer now owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,163 shares of company stock worth $25,361,647. Insiders own 12.99% of the company’s stock.

Alphabet Company 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.