Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,533,846 shares of the information services provider’s stock after selling 79,185 shares during the quarter. Alphabet makes up 2.0% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 7th largest holding. Chevy Chase Trust Holdings LLC’s holdings in Alphabet were worth $672,986,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the 4th quarter worth approximately $27,000. Weiss Asset Management LP acquired a new stake in Alphabet in the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the last quarter. Finally, Compass Financial Services Inc acquired a new stake in Alphabet in the 4th quarter worth approximately $65,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $186.87 on Tuesday. The business’s fifty day moving average price is $194.37 and its two-hundred day moving average price is $176.71. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The stock has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business 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 $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GOOG. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Scotiabank lifted their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Six equities research 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, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 over the last three months. Company insiders own 12.99% of the company’s stock.

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.