MTM Investment Management LLC Sells 237 Shares of Alphabet Inc. (NASDAQ:GOOG)

MTM Investment Management LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the 4th quarter, Holdings Channel reports. The fund owned 6,621 shares of the information services provider’s stock after selling 237 shares during the quarter. MTM Investment Management LLC’s holdings in Alphabet were worth $1,262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fiduciary Advisors Inc. bought a new position in Alphabet during the 4th quarter worth approximately $27,000. Weiss Asset Management LP bought a new position in Alphabet in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. lifted 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 valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, Compass Financial Services Inc bought a new position in Alphabet in the fourth quarter valued at approximately $65,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $186.87 on Monday. The company has a market cap of $2.29 trillion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The company’s fifty day simple moving average is $194.37 and its 200 day simple moving average is $176.69. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 over the last ninety days. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of research reports. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. 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 note on Thursday, January 30th. Finally, Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.13.

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.