Thompson Davis & CO. Inc. Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

Thompson Davis & CO. Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 31.6% during the 4th quarter, Holdings Channel reports. The firm owned 3,101 shares of the information services provider’s stock after selling 1,430 shares during the period. Thompson Davis & CO. Inc.’s holdings in Alphabet were worth $591,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GOOG. Fiduciary Advisors Inc. purchased a new position in Alphabet during the 4th quarter valued at $27,000. Weiss Asset Management LP bought a new stake in shares of Alphabet during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the third quarter valued at about $33,000. Sanctuary Wealth Management L.L.C. raised its stake in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Finally, Maryland Capital Advisors Inc. lifted its holdings in Alphabet by 33.0% in the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock worth $51,000 after buying an additional 66 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOG shares. JPMorgan Chase & Co. upped their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Pivotal Research increased their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Down 2.1 %

Shares of Alphabet stock opened at $177.37 on Wednesday. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $193.29 and its 200 day moving average is $177.66. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock worth $25,055,751 in the last three months. 12.99% of the stock is currently owned by company 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.