Bowen Hanes & Co. Inc. Has $8.41 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bowen Hanes & Co. Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 80.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,135 shares of the information services provider’s stock after selling 183,485 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in Alphabet were worth $8,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Raymond James Financial Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $1,551,533,000. FMR LLC grew its holdings in Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Alphabet by 5,712.8% during the 4th quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $831,810,000 after acquiring an additional 4,292,689 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after acquiring an additional 3,113,395 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Alphabet by 182.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock worth $422,331,000 after acquiring an additional 1,630,701 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research reports. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Up 1.8 %

Alphabet stock opened at $169.00 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.01 and a 12-month high of $208.70. The firm’s fifty day moving average is $188.44 and its 200 day moving average is $178.02. The company has a market capitalization of $2.06 trillion, a PE ratio of 20.99, a PEG ratio of 1.34 and a beta of 1.03.

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

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.47%. Alphabet’s payout ratio is 9.94%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,682 shares of company stock worth $17,901,024. Insiders own 12.99% of the company’s stock.

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.