Dearborn Partners LLC Sells 147 Shares of Alphabet Inc. (NASDAQ:GOOG)

Dearborn Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,481 shares of the information services provider’s stock after selling 147 shares during the period. Dearborn Partners LLC’s holdings in Alphabet were worth $1,996,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Swedbank AB lifted its holdings in shares of Alphabet by 0.6% during the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after acquiring an additional 51,226 shares during the period. Principal Financial Group Inc. increased its position in shares of Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after purchasing an additional 264,962 shares in the last quarter. Summit Wealth & Retirement Planning Inc. increased its position in shares of Alphabet by 3.2% during the 3rd quarter. Summit Wealth & Retirement Planning Inc. now owns 5,164 shares of the information services provider’s stock worth $863,000 after purchasing an additional 160 shares in the last quarter. Costello Asset Management INC increased its position in shares of Alphabet by 2.3% during the 3rd quarter. Costello Asset Management INC now owns 29,710 shares of the information services provider’s stock worth $4,967,000 after purchasing an additional 660 shares in the last quarter. Finally, Liberty Wealth Management LLC increased its position in shares of Alphabet by 0.7% during the 3rd quarter. Liberty Wealth Management LLC now owns 11,270 shares of the information services provider’s stock worth $1,884,000 after purchasing an additional 76 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 4.5 %

Shares of NASDAQ:GOOG opened at $167.81 on Tuesday. Alphabet Inc. has a one year low of $137.07 and a one year high of $208.70. The company has a 50 day moving average of $189.36 and a 200-day moving average of $178.09. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred 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 of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,182 shares of company stock valued at $18,192,354 in the last 90 days. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOG. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Scotiabank increased their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company 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.