Alphabet Inc. (NASDAQ:GOOG) Position Reduced by Mill Capital Management LLC

Mill Capital Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 379,345 shares of the information services provider’s stock after selling 13,930 shares during the period. Alphabet comprises 5.7% of Mill Capital Management LLC’s holdings, making the stock its 4th biggest holding. Mill Capital Management LLC’s holdings in Alphabet were worth $72,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in GOOG. Weiss Asset Management LP purchased a new position in shares of Alphabet during the third quarter valued at $25,000. Fiduciary Advisors Inc. bought a new position in Alphabet during the 4th quarter worth about $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the 3rd quarter valued at about $33,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet in the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $43,000. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,048 shares of company stock valued at $17,374,274. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a report on Wednesday. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a research note on Wednesday. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Trading Up 0.7 %

NASDAQ:GOOG opened at $166.25 on Monday. The company has a market capitalization of $2.03 trillion, a P/E ratio of 20.65, a PEG ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $148.20 and a 12 month high of $208.70. The firm has a fifty day simple moving average of $184.37 and a 200-day simple moving average of $178.22.

Alphabet (NASDAQ:GOOG) last released its earnings results 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 return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

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.