Retirement Income Solutions Inc Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Retirement Income Solutions Inc reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,820 shares of the information services provider’s stock after selling 114 shares during the quarter. Retirement Income Solutions Inc’s holdings in Alphabet were worth $1,299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the third quarter valued at $25,000. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter valued at $27,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet in the third quarter valued at $33,000. Sanctuary Wealth Management L.L.C. boosted its holdings 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 purchasing an additional 117 shares during the last quarter. Finally, Maryland Capital Advisors Inc. boosted 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 valued at $51,000 after purchasing an additional 66 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were 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. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,609 shares of company stock worth $21,809,990 in the last ninety days. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective 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. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wedbush restated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Pivotal Research upped their price target 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. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Performance

NASDAQ:GOOG opened at $186.85 on Friday. 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 stock has a market capitalization of $2.28 trillion, a P/E ratio of 23.21, a PEG ratio of 1.34 and a beta of 1.00. The company has a 50 day moving average price of $194.22 and a 200 day moving average price of $177.08. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 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.