Chronos Wealth Management LLC Has $13.19 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Chronos Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,245 shares of the information services provider’s stock after selling 623 shares during the quarter. Alphabet accounts for 6.7% of Chronos Wealth Management LLC’s holdings, making the stock its 4th biggest position. Chronos Wealth Management LLC’s holdings in Alphabet were worth $13,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Weiss Asset Management LP bought a new stake in shares of Alphabet in the 3rd quarter valued at about $25,000. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. increased its stake in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC increased its stake in shares of Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is owned by insiders.

Alphabet Trading Down 0.6 %

NASDAQ GOOG opened at $187.07 on Wednesday. The company has a market cap of $2.29 trillion, a PE ratio of 23.24, a PEG ratio of 1.39 and a beta of 1.00. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The stock has a 50 day moving average of $193.42 and a 200-day moving average of $176.27.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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 research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Jefferies Financial Group boosted their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup boosted their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

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.