Alphabet Inc. (NASDAQ:GOOG) Stock Position Trimmed by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,788,619 shares of the information services provider’s stock after selling 163,130 shares during the quarter. Alphabet comprises approximately 0.9% of Rockefeller Capital Management L.P.’s holdings, making the stock its 16th largest position. Rockefeller Capital Management L.P.’s holdings in Alphabet were worth $340,352,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Sterling Financial Planning Inc. raised its holdings in Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after buying an additional 50 shares during the last quarter. Arlington Trust Co LLC raised its stake in shares of Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after acquiring an additional 52 shares during the last quarter. Harrell Investment Partners LLC boosted its holdings in shares of Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after purchasing an additional 53 shares during the period. Ethos Financial Group LLC boosted its holdings in shares of Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after purchasing an additional 53 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its holdings in Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Wedbush reiterated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $208.71.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $159.40 on Friday. The business has a fifty day moving average price of $170.50 and a 200-day moving average price of $177.89. 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 market capitalization of $1.94 trillion, a PE ratio of 19.80, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

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%. As a group, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. This represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,797 shares of company stock valued at $21,089,470. 12.99% of the stock is owned by corporate 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.