TBH Global Asset Management LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

TBH Global Asset Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,406 shares of the information services provider’s stock after selling 3,514 shares during the period. Alphabet accounts for 2.0% of TBH Global Asset Management LLC’s holdings, making the stock its 12th biggest position. TBH Global Asset Management LLC’s holdings in Alphabet were worth $8,647,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GOOG. FMR LLC lifted its holdings in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after buying an additional 5,655,022 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Alphabet by 10.3% during 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 worth $5,573,125,000 after buying an additional 3,113,395 shares during the period. Assenagon Asset Management S.A. lifted its holdings in 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 worth $1,052,349,000 after buying an additional 2,500,621 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of 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 valued at $422,331,000 after purchasing an additional 1,630,701 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Alphabet by 9.1% during 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. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Oppenheimer increased their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In other news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,824 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,815,948.32. This trade represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock worth $25,055,751 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $181.58 on Friday. The business’s 50-day moving average is $194.02 and its two-hundred day moving average is $177.34. The company has a market capitalization of $2.21 trillion, a P/E ratio of 22.56, a P/E/G ratio of 1.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last announced 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 return on equity of 32.49% and a net margin of 28.60%. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 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.