Wellington Management Group LLP Sells 6,342 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wellington Management Group LLP lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,038,243 shares of the information services provider’s stock after selling 6,342 shares during the period. Alphabet comprises 0.8% of Wellington Management Group LLP’s portfolio, making the stock its 16th largest holding. Wellington Management Group LLP’s holdings in Alphabet were worth $4,387,403,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Sterling Financial Planning Inc. increased its holdings in Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC boosted its stake in Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after acquiring an additional 52 shares during the last quarter. Harrell Investment Partners LLC grew its holdings in Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 53 shares during the period. Ethos Financial Group LLC increased its stake in Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after purchasing an additional 53 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. raised its holdings in Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 4.9 %

GOOG opened at $156.06 on Monday. The stock’s fifty day simple moving average is $181.53 and its 200 day simple moving average is $178.69. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. The stock has a market cap 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 current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates 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, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,992 shares of company stock valued at $16,097,111 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on GOOG shares. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush restated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.56.

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.