Tenon Financial LLC Sells 160 Shares of Alphabet Inc. (NASDAQ:GOOG)

Tenon Financial LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 11.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,238 shares of the information services provider’s stock after selling 160 shares during the quarter. Tenon Financial LLC’s holdings in Alphabet were worth $236,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. FMR LLC raised its holdings in Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. Geode Capital Management LLC grew its position in shares of Alphabet by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Alphabet by 10.3% during the 3rd 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 purchasing an additional 3,113,395 shares in the last quarter. Jennison Associates LLC grew its position 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 worth $2,578,793,000 after purchasing an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. grew 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. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. 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. Barclays increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Jefferies Financial Group increased their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,529 shares of company stock valued at $16,600,078. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $187.07 on Wednesday. The company has a market cap of $2.29 trillion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The firm has a 50 day simple moving average of $193.42 and a 200 day simple moving average of $176.27. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm 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 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

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.