Alphabet Inc. (NASDAQ:GOOG) Stock Position Trimmed by Forte Capital LLC ADV

Forte Capital LLC ADV decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,992 shares of the information services provider’s stock after selling 1,073 shares during the period. Forte Capital LLC ADV’s holdings in Alphabet were worth $5,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Swedbank AB raised its stake in shares of Alphabet by 0.6% during the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after purchasing an additional 51,226 shares in the last quarter. Moody Lynn & Lieberson LLC increased its position in Alphabet by 4.5% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 54,102 shares of the information services provider’s stock worth $9,045,000 after buying an additional 2,328 shares during the period. Silver Oak Securities Incorporated boosted its holdings in Alphabet by 9.6% in the 3rd quarter. Silver Oak Securities Incorporated now owns 10,730 shares of the information services provider’s stock valued at $1,771,000 after purchasing an additional 944 shares during the period. Busey Bank grew its position in Alphabet by 0.9% during the third quarter. Busey Bank now owns 579,189 shares of the information services provider’s stock worth $96,835,000 after buying an additional 5,041 shares in the last quarter. Finally, Heritage Oak Wealth Advisors LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $1,375,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wedbush restated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Citigroup boosted their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. UBS Group lifted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Trading Down 2.7 %

NASDAQ:GOOG opened at $181.58 on Monday. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The company’s 50 day moving average price is $194.02 and its 200-day moving average price is $177.45. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.21 trillion, a price-to-earnings ratio of 22.56, a PEG ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was 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. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,299 shares of company stock worth $25,055,751 in the last three months. Insiders own 12.99% of the company’s stock.

About Alphabet

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.