Chicago Capital LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Chicago Capital LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the fourth quarter, HoldingsChannel reports. The fund owned 93,342 shares of the information services provider’s stock after selling 2,659 shares during the period. Chicago Capital LLC’s holdings in Alphabet were worth $17,776,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of GOOG. Harrell Investment Partners LLC grew its position 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 buying an additional 53 shares during the period. Redhawk Wealth Advisors Inc. grew its position in Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after buying an additional 54 shares during the period. Investment Advisory Group LLC grew its position in Alphabet by 0.7% during the fourth quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock valued at $1,463,000 after buying an additional 56 shares during the period. McGlone Suttner Wealth Management Inc. boosted its position in shares of Alphabet by 4.6% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock worth $243,000 after purchasing an additional 56 shares during the period. Finally, Sunburst Financial Group LLC boosted its position in shares of Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Alphabet stock opened at $193.31 on Friday. The company has a market cap of $2.37 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.32 and a beta of 1.00. The firm’s fifty day moving average is $192.33 and its 200 day moving average is $176.03. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 over the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GOOG shares. Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup upped their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. 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 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.