Polymer Capital Management HK LTD Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Polymer Capital Management HK LTD trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 37.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 21,322 shares of the information services provider’s stock after selling 12,778 shares during the period. Polymer Capital Management HK LTD’s holdings in Alphabet were worth $4,061,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Alphabet during the fourth quarter worth about $5,166,070,000. Raymond James Financial Inc. acquired a new position in shares of Alphabet in the fourth quarter worth $1,551,533,000. GQG Partners LLC grew its stake in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after acquiring an additional 7,221,746 shares in the last quarter. Proficio Capital Partners LLC increased its position in shares of Alphabet by 5,712.8% during the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $831,810,000 after acquiring an additional 4,292,689 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Alphabet during the 4th quarter worth about $328,018,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of analyst reports. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $208.65.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the 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 approximately $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. Over the last ninety days, insiders sold 119,797 shares of company stock valued at $21,089,470. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Down 3.2 %

NASDAQ GOOG opened at $147.74 on Friday. The firm has a 50-day simple moving average of $177.04 and a 200 day simple moving average of $178.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market cap of $1.80 trillion, a PE ratio of 18.35, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a twelve month low of $147.54 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly 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%. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.