New Republic Capital LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOG)

New Republic Capital LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,502 shares of the information services provider’s stock after selling 518 shares during the period. Alphabet makes up approximately 1.2% of New Republic Capital LLC’s holdings, making the stock its 20th largest holding. New Republic Capital LLC’s holdings in Alphabet were worth $1,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. M&G PLC acquired a new stake in Alphabet during the 3rd quarter valued at $2,240,000. GPS Wealth Strategies Group LLC grew its stake in shares of Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after acquiring an additional 1,041 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares in the last quarter. Finally, Requisite Capital Management LLC purchased a new position in Alphabet in the fourth quarter valued at about $927,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’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 transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock valued at $16,600,078 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent analyst reports. Pivotal Research upped their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Down 0.5 %

Alphabet stock opened at $186.87 on Friday. The firm has a market capitalization of $2.29 trillion, a P/E ratio of 23.21, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a 50-day simple moving average of $194.16 and a 200-day simple moving average of $176.54. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results 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%. As a group, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend 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.