Alphabet Inc. (NASDAQ:GOOG) Position Reduced by Udine Wealth Management Inc.

Udine Wealth Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,924 shares of the information services provider’s stock after selling 6,666 shares during the quarter. Alphabet accounts for approximately 6.9% of Udine Wealth Management Inc.’s holdings, making the stock its 5th biggest holding. Udine Wealth Management Inc.’s holdings in Alphabet were worth $10,776,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC lifted its stake in Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after buying an additional 5,655,022 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Alphabet by 65.9% during the third quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after acquiring an additional 2,500,621 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Alphabet by 182.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after purchasing an additional 1,630,701 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after purchasing an additional 1,291,274 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOG. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Pivotal Research lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. UBS Group upped their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Price Performance

Shares of GOOG stock opened at $197.55 on Tuesday. The firm has a market cap of $2.42 trillion, a P/E ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99. The firm has a fifty day moving average of $185.92 and a two-hundred day moving average of $174.76. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 133,387 shares of company stock valued at $24,368,654. Company 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.