Financial Management Network Inc. Sells 100 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Financial Management Network Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the fourth quarter, HoldingsChannel reports. The fund owned 17,740 shares of the information services provider’s stock after selling 100 shares during the period. Financial Management Network Inc.’s holdings in Alphabet were worth $3,402,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. State Street Corp grew its position in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after buying an additional 743,369 shares during the period. Geode Capital Management LLC grew its position in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the period. JPMorgan Chase & Co. grew its position in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the period. Fisher Asset Management LLC grew its position in shares of Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after buying an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after buying an additional 523,416 shares during the period. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % 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, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,316 shares of company stock valued at $25,062,887. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on GOOGL. Robert W. Baird reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Stifel Nicolaus boosted their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Morgan Stanley decreased their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Stock Performance

NASDAQ GOOGL opened at $167.01 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average price is $190.02 and its two-hundred day moving average price is $176.35. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Alphabet 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.