Fairscale Capital LLC Sells 153 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fairscale Capital LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,075 shares of the information services provider’s stock after selling 153 shares during the period. Alphabet makes up about 1.2% of Fairscale Capital LLC’s holdings, making the stock its 18th biggest position. Fairscale Capital LLC’s holdings in Alphabet were worth $1,347,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GOOG. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the third quarter worth $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in Alphabet by 87.3% during 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 in the last quarter. Finally, Noble Wealth Management PBC bought a new position in Alphabet in the 4th quarter worth about $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOG stock opened at $175.75 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $134.80 and a 1 year high of $208.70. The firm has a 50-day moving average of $189.85 and a 200 day moving average of $178.07. The company has a market cap of $2.14 trillion, a P/E ratio of 21.83, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’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 sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,316 shares of company stock worth $25,062,887. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several analyst reports. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Scotiabank increased their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price 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.