Weinberger Asset Management Inc Sells 222 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Weinberger Asset Management Inc cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,691 shares of the information services provider’s stock after selling 222 shares during the period. Weinberger Asset Management Inc’s holdings in Alphabet were worth $699,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Bennett Selby Investments LP increased its position in shares of Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after purchasing an additional 52 shares in the last quarter. Macroview Investment Management LLC boosted its stake in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after buying an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. boosted its stake in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after buying an additional 53 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after buying an additional 53 shares during the last quarter. Finally, Addison Advisors LLC boosted its stake in Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after buying an additional 53 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOGL. JPMorgan Chase & Co. lowered their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Wedbush boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. DA Davidson upped their price target on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Citigroup decreased their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Stock Down 4.6 %

NASDAQ:GOOGL opened at $165.87 on Tuesday. The firm has a market capitalization of $2.02 trillion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The stock has a 50 day moving average of $187.71 and a 200-day moving average of $176.56. Alphabet Inc. has a 52 week low of $136.13 and a 52 week high of $207.05. 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 (NASDAQ:GOOGL) last posted its earnings results 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 return on equity of 32.49% and a net margin of 28.60%. Analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the 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 of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,182 shares of company stock worth $18,192,354 in the last three months. 11.55% of the stock is 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.