DT Investment Partners LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

DT Investment Partners LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 25.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,848 shares of the information services provider’s stock after selling 5,100 shares during the quarter. DT Investment Partners LLC’s holdings in Alphabet were worth $2,828,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Swedbank AB increased its holdings in shares of Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after buying an additional 51,226 shares during the last quarter. Chicago Capital LLC grew its holdings in Alphabet by 1.8% during the 3rd quarter. Chicago Capital LLC now owns 96,001 shares of the information services provider’s stock valued at $16,050,000 after purchasing an additional 1,667 shares during the last quarter. AA Financial Advisors LLC grew its holdings in Alphabet by 15.9% during the 3rd quarter. AA Financial Advisors LLC now owns 7,147 shares of the information services provider’s stock valued at $1,195,000 after purchasing an additional 982 shares during the last quarter. E&G Advisors LP grew its holdings in Alphabet by 4.7% during the 3rd quarter. E&G Advisors LP now owns 7,959 shares of the information services provider’s stock valued at $1,331,000 after purchasing an additional 355 shares during the last quarter. Finally, Whitaker Myers Wealth Managers LTD. grew its holdings in Alphabet by 17.2% during the 3rd quarter. Whitaker Myers Wealth Managers LTD. now owns 3,792 shares of the information services provider’s stock valued at $634,000 after purchasing an additional 557 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOG. Barclays upped their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Canaccord Genuity Group upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Down 0.5 %

GOOG stock opened at $186.87 on Tuesday. The firm has a market cap of $2.29 trillion, a PE ratio of 23.21, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The firm’s fifty day moving average is $194.37 and its 200 day moving average is $176.71. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock valued at $16,600,078 in the last ninety days. Company 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.