Alphabet Inc. (NASDAQ:GOOG) Shares Sold by South Street Advisors LLC

South Street Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,015 shares of the information services provider’s stock after selling 450 shares during the quarter. South Street Advisors LLC’s holdings in Alphabet were worth $955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Clarity Wealth Development LLC acquired a new stake in Alphabet in the fourth quarter valued at $486,000. PDS Planning Inc lifted its holdings in Alphabet by 10.9% in the fourth quarter. PDS Planning Inc now owns 34,948 shares of the information services provider’s stock valued at $6,656,000 after acquiring an additional 3,447 shares during the period. Retirement Planning Co of New England Inc. lifted its holdings in Alphabet by 0.4% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock valued at $3,043,000 after acquiring an additional 56 shares during the period. Mystic Asset Management Inc. lifted its holdings in Alphabet by 2.8% in the fourth quarter. Mystic Asset Management Inc. now owns 19,979 shares of the information services provider’s stock valued at $3,805,000 after acquiring an additional 536 shares during the period. Finally, RD Lewis Holdings Inc. acquired a new stake in Alphabet in the fourth quarter valued at $2,287,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GOOG shares. Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of Alphabet 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 transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 in the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 0.6 %

Alphabet stock opened at $166.57 on Tuesday. The stock has a market cap of $2.03 trillion, a PE ratio of 20.69, a P/E/G ratio of 1.34 and a beta of 1.03. The stock has a 50-day moving average price of $186.78 and a 200 day moving average price of $178.12. Alphabet Inc. has a 52 week low of $147.01 and a 52 week high of $208.70. 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 posted its quarterly earnings results 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%. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 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.