Processus Wealth & Capital Management LLC Sells 119 Shares of Alphabet Inc. (NASDAQ:GOOG)

Processus Wealth & Capital Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,912 shares of the information services provider’s stock after selling 119 shares during the period. Alphabet comprises approximately 3.0% of Processus Wealth & Capital Management LLC’s holdings, making the stock its 10th largest position. Processus Wealth & Capital Management LLC’s holdings in Alphabet were worth $3,792,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sterling Financial Planning Inc. increased its position in Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after acquiring an additional 50 shares during the period. Arlington Trust Co LLC boosted its stake in shares of Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after purchasing an additional 52 shares in the last quarter. Harrell Investment Partners LLC boosted its stake in shares of Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 53 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in shares of Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares in the last quarter. Finally, Tempus Wealth Planning LLC boosted its stake in shares of Alphabet by 1.7% in the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock valued at $636,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $172.22 on Friday. The stock has a market capitalization of $2.10 trillion, a P/E ratio of 21.39, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 1-year low of $131.55 and a 1-year 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. The business has a 50-day moving average price of $192.17 and a two-hundred day moving average price of $177.65.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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%. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Activity

In other news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,309 shares of company stock valued at $25,057,490 in the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent analyst reports. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Company 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.