Alphabet Inc. (NASDAQ:GOOG) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,544,922 shares of the information services provider’s stock after selling 2,658 shares during the period. Alphabet makes up about 2.1% of King Luther Capital Management Corp’s portfolio, making the stock its 7th biggest holding. King Luther Capital Management Corp’s holdings in Alphabet were worth $484,655,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter valued at $27,000. Weiss Asset Management LP purchased a new stake in Alphabet during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet during the third quarter worth about $33,000. Noble Wealth Management PBC acquired a new stake in shares of Alphabet during the fourth quarter worth about $43,000. Finally, FPC Investment Advisory Inc. increased its position in shares of Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after purchasing an additional 167 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s 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 sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now directly owns 23,324 shares in the company, valued at $4,529,987.28. This trade represents a 6.04 % 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 quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG opened at $167.81 on Tuesday. Alphabet Inc. has a twelve month low of $137.07 and a twelve month high of $208.70. The stock’s 50 day moving average is $189.36 and its two-hundred day moving average is $178.09. The firm has a market capitalization of $2.05 trillion, a PE ratio of 20.85, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank lifted their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Finally, Oppenheimer lifted their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average 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.