DRH Investments Inc. Sells 10,857 Shares of Alphabet Inc. (NASDAQ:GOOG)

DRH Investments Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.9% in the fourth quarter, Holdings Channel reports. The fund owned 80,676 shares of the information services provider’s stock after selling 10,857 shares during the period. Alphabet accounts for 17.6% of DRH Investments Inc.’s investment portfolio, making the stock its biggest holding. DRH Investments Inc.’s holdings in Alphabet were worth $15,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Heritage Trust Co acquired a new position in Alphabet during the 4th quarter valued at $19,549,000. Seneschal Advisors LLC acquired a new stake in Alphabet in the 4th quarter worth $1,223,000. Jaffetilchin Investment Partners LLC increased its holdings in shares of Alphabet by 3.5% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 46,190 shares of the information services provider’s stock worth $8,796,000 after purchasing an additional 1,576 shares during the period. Eley Financial Management Inc raised its position in shares of Alphabet by 1.0% during the fourth quarter. Eley Financial Management Inc now owns 24,591 shares of the information services provider’s stock valued at $4,683,000 after buying an additional 245 shares during the last quarter. Finally, Family Office Research LLC bought a new stake in shares of Alphabet in the fourth quarter valued at about $214,000. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $207.33.

Alphabet Price Performance

Alphabet stock opened at $155.37 on Friday. The business’s fifty day moving average is $171.46 and its two-hundred day moving average is $177.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.89 trillion, a P/E ratio of 19.30, a P/E/G ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 0.51%. Alphabet’s payout ratio is 9.94%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock valued at $21,089,470 over the last three months. 12.99% of the stock is owned by insiders.

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.