OneDigital Investment Advisors LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

OneDigital Investment Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,743 shares of the information services provider’s stock after selling 10,483 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Alphabet were worth $22,042,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GOOG. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at about $27,000. LSV Asset Management bought a new stake in Alphabet during the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet during the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOG shares. Westpark Capital initiated coverage on Alphabet in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 price target on the stock. Oppenheimer lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. UBS Group cut their price objective on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, KeyCorp cut their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.88.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock valued at $25,361,647 in the last quarter. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Down 1.4 %

Shares of GOOG stock opened at $153.36 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock has a market capitalization of $1.87 trillion, a P/E ratio of 19.05, a P/E/G ratio of 1.34 and a beta of 1.04. The firm’s 50 day moving average is $167.16 and its 200 day moving average is $177.62.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid 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 0.52%. Alphabet’s dividend payout ratio is currently 9.94%.

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.