Swisher Financial Concepts Inc. Sells 1,120 Shares of Alphabet Inc. (NASDAQ:GOOG)

Swisher Financial Concepts Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 27.8% during the fourth quarter, HoldingsChannel reports. The fund owned 2,910 shares of the information services provider’s stock after selling 1,120 shares during the quarter. Alphabet comprises about 0.7% of Swisher Financial Concepts Inc.’s holdings, making the stock its 29th largest position. Swisher Financial Concepts Inc.’s holdings in Alphabet were worth $554,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Weiss Asset Management LP bought a new position in Alphabet in the third quarter worth about $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new stake in Alphabet during the fourth quarter valued at approximately $43,000. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOG opened at $149.24 on Tuesday. 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 company has a 50 day moving average price of $176.15 and a 200-day moving average price of $178.45. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm has a market cap of $1.82 trillion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released 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 net margin of 28.60% and a return on equity of 32.49%. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.54%. Alphabet’s dividend payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GOOG shares. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $208.65.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,797 shares of company stock valued at $21,089,470. Company insiders own 12.99% of the company’s stock.

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.