Parker Investment Management LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Parker Investment Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 217,938 shares of the information services provider’s stock after selling 2,042 shares during the quarter. Alphabet makes up 6.5% of Parker Investment Management LLC’s portfolio, making the stock its 7th largest holding. Parker Investment Management LLC’s holdings in Alphabet were worth $41,504,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the fourth quarter worth $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter valued at $33,000. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new position in Alphabet during the 4th quarter worth about $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,182 shares of company stock valued at $18,192,354. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Down 4.5 %

Shares of NASDAQ GOOG opened at $167.81 on Tuesday. Alphabet Inc. has a twelve month low of $137.07 and a twelve month high of $208.70. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $189.36 and its 200-day moving average is $178.09.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOG shares. The Goldman Sachs Group restated 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. 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. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus 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.