Quintet Private Bank Europe S.A. Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Quintet Private Bank Europe S.A. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 22.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 218,729 shares of the information services provider’s stock after selling 62,935 shares during the period. Alphabet accounts for approximately 2.3% of Quintet Private Bank Europe S.A.’s holdings, making the stock its 12th largest holding. Quintet Private Bank Europe S.A.’s holdings in Alphabet were worth $41,655,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. grew its stake in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,316 shares of company stock valued at $25,062,887. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $172.61 on Wednesday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The company has a market cap of $2.10 trillion, a PE ratio of 21.44, a P/E/G ratio of 1.34 and a beta of 1.00. The stock has a 50 day simple moving average of $191.13 and a 200-day simple moving average of $177.93. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio is presently 9.94%.

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.