Walled Lake Planning & Wealth Management LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Walled Lake Planning & Wealth Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 6.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,386 shares of the information services provider’s stock after selling 350 shares during the quarter. Walled Lake Planning & Wealth Management LLC’s holdings in Alphabet were worth $1,026,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Weiss Asset Management LP acquired a new position in Alphabet during the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter worth $33,000. WealthTrak Capital Management LLC purchased a new position in Alphabet in the fourth quarter valued at $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Alphabet in the fourth quarter valued at $39,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOG. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Oppenheimer lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $208.56.

Alphabet Stock Down 4.9 %

GOOG stock opened at $156.06 on Friday. The stock has a market capitalization of $1.90 trillion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a fifty day moving average of $181.53 and a 200-day moving average of $178.51. 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 one year low of $148.20 and a one year high of $208.70.

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 net margin of 28.60% and a return on equity of 32.49%. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,812 shares of company stock valued at $19,336,979 over the last quarter. Company insiders own 12.99% of the company’s stock.

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.