Dimension Capital Management LLC Has $2.75 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Dimension Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,456 shares of the information services provider’s stock after selling 160 shares during the quarter. Alphabet makes up approximately 0.4% of Dimension Capital Management LLC’s portfolio, making the stock its 26th largest position. Dimension Capital Management LLC’s holdings in Alphabet were worth $2,753,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter valued at about $27,000. LSV Asset Management bought a new position in Alphabet in the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet during the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet in the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet during the 4th quarter worth approximately $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOG. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Scotiabank reduced their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. UBS Group dropped their price objective on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. KeyCorp dropped their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $203.94.

Alphabet Trading Down 7.5 %

NASDAQ GOOG opened at $152.82 on Thursday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a market cap of $1.85 trillion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 1.34 and a beta of 1.01. The business has a 50 day moving average price of $161.59 and a 200-day moving average price of $177.00. 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 (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the company earned $1.89 earnings per share. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares of the company’s stock, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,824 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,815,948.32. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,824 shares of company stock valued at $25,086,603. Insiders own 12.99% of the company’s stock.

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.