Alphabet Inc. (NASDAQ:GOOG) is Beese Fulmer Investment Management Inc.’s 9th Largest Position

Beese Fulmer Investment Management Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,147 shares of the information services provider’s stock after selling 809 shares during the quarter. Alphabet comprises 2.1% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 9th largest holding. Beese Fulmer Investment Management Inc.’s holdings in Alphabet were worth $25,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Exchange Traded Concepts LLC raised its stake in shares of Alphabet by 42.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,511 shares of the information services provider’s stock worth $1,089,000 after acquiring an additional 1,953 shares in the last quarter. McGlone Suttner Wealth Management Inc. purchased a new position in Alphabet in the third quarter worth $204,000. Armstrong Advisory Group Inc. increased its position in shares of Alphabet by 2.8% during the third quarter. Armstrong Advisory Group Inc. now owns 4,118 shares of the information services provider’s stock worth $688,000 after purchasing an additional 113 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Alphabet by 3.1% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 275,071 shares of the information services provider’s stock valued at $45,989,000 after purchasing an additional 8,270 shares during the last quarter. Finally, Thomasville National Bank boosted its position in shares of Alphabet by 0.3% in the 3rd quarter. Thomasville National Bank now owns 298,259 shares of the information services provider’s stock worth $49,866,000 after purchasing an additional 990 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock valued at $16,600,078 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.6 %

Alphabet stock opened at $188.20 on Tuesday. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The firm has a market cap of $2.30 trillion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The business’s 50-day moving average price is $193.12 and its 200 day moving average price is $176.14. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates 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, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank lifted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

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.