Rise Advisors LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Rise Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,124 shares of the information services provider’s stock after selling 66 shares during the period. Alphabet comprises about 0.7% of Rise Advisors LLC’s holdings, making the stock its 16th largest holding. Rise Advisors LLC’s holdings in Alphabet were worth $1,547,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new position in shares of Alphabet in the 3rd quarter valued at about $25,000. Abich Financial Wealth Management LLC lifted its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $33,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $40,000. Finally, Slocum Gordon & Co LLP acquired a new stake in shares of Alphabet in the 2nd quarter valued at $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ GOOG traded down $0.52 on Tuesday, hitting $197.44. 9,390,293 shares of the company’s stock were exchanged, compared to its average volume of 14,780,861. The firm has a market cap of $2.42 trillion, a price-to-earnings ratio of 26.19, a P/E/G ratio of 1.34 and a beta of 0.99. The firm’s 50-day moving average price is $182.36 and its two-hundred day moving average price is $174.11. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,887 shares of company stock valued at $27,996,356. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on GOOG. Canaccord Genuity Group increased their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a research report on Tuesday, September 10th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $200.56.

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.