Fox Hill Wealth Management Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Fox Hill Wealth Management decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,211 shares of the information services provider’s stock after selling 1,102 shares during the period. Alphabet comprises 1.6% of Fox Hill Wealth Management’s portfolio, making the stock its 14th largest holding. Fox Hill Wealth Management’s holdings in Alphabet were worth $2,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Weiss Asset Management LP purchased a new stake in Alphabet during the third quarter worth about $25,000. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter worth about $27,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet during the third quarter worth about $33,000. Noble Wealth Management PBC purchased a new stake in Alphabet during the fourth quarter worth about $43,000. Finally, FPC Investment Advisory Inc. boosted its holdings in Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,048 shares of company stock valued at $17,374,274. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank upped their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. One investment 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 stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Performance

NASDAQ:GOOG opened at $162.67 on Wednesday. The firm has a 50 day simple moving average of $186.10 and a 200-day simple moving average of $178.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $1.98 trillion, a PE ratio of 20.21, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1-year low of $147.01 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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, equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) 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.