Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Sterneck Capital Management LLC

Sterneck Capital Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 23,041 shares of the information services provider’s stock after selling 163 shares during the quarter. Alphabet comprises about 2.4% of Sterneck Capital Management LLC’s portfolio, making the stock its 13th largest holding. Sterneck Capital Management LLC’s holdings in Alphabet were worth $4,388,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Weiss Asset Management LP acquired a new stake 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 valued at $34,000 after buying an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $33,000. HWG Holdings LP purchased a new position in shares of Alphabet during the second quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. increased its holdings in shares of 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 valued at $42,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Down 0.6 %

NASDAQ:GOOG opened at $196.71 on Wednesday. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $182.87 and a 200-day simple moving average of $174.23. The company has a market capitalization of $2.41 trillion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

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

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were 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 owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 155,887 shares of company stock valued at $27,996,356 over the last three months. 12.99% of the stock is currently owned by insiders.

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.