Gilman Hill Asset Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 14,015 shares of the information services provider’s stock after selling 340 shares during the period. Gilman Hill Asset Management LLC’s holdings in Alphabet were worth $2,669,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Weiss Asset Management LP purchased a new position in shares of Alphabet during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the 3rd quarter worth about $33,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the period. HWG Holdings LP purchased a new position in shares of Alphabet during the 2nd quarter worth about $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Alphabet stock opened at $199.63 on Wednesday. The stock has a market cap of $2.44 trillion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $186.23 and a 200-day moving average of $174.83. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on GOOG. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price 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. Canaccord Genuity Group increased their target price 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. Finally, Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.
Check Out Our Latest Report on GOOG
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 over the last ninety days. 12.99% of the stock is owned by insiders.
About Alphabet
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.
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