Chronos Wealth Management LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Chronos Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,245 shares of the information services provider’s stock after selling 623 shares during the quarter. Alphabet makes up approximately 6.7% of Chronos Wealth Management LLC’s portfolio, making the stock its 4th largest holding. Chronos Wealth Management LLC’s holdings in Alphabet were worth $13,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Apollon Wealth Management LLC raised its position in Alphabet by 18.1% during the fourth quarter. Apollon Wealth Management LLC now owns 168,015 shares of the information services provider’s stock valued at $31,997,000 after acquiring an additional 25,736 shares in the last quarter. Apollon Financial LLC raised its position in Alphabet by 3.4% during the fourth quarter. Apollon Financial LLC now owns 66,306 shares of the information services provider’s stock valued at $12,627,000 after acquiring an additional 2,163 shares in the last quarter. Opinicus Capital Inc. raised its position in Alphabet by 1.0% during the fourth quarter. Opinicus Capital Inc. now owns 8,772 shares of the information services provider’s stock valued at $1,671,000 after acquiring an additional 86 shares in the last quarter. Westbourne Investment Advisors Inc. raised its position in Alphabet by 2.0% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 10,604 shares of the information services provider’s stock valued at $2,019,000 after acquiring an additional 209 shares in the last quarter. Finally, Almanack Investment Partners LLC. raised its position in Alphabet by 2.4% during the fourth quarter. Almanack Investment Partners LLC. now owns 7,803 shares of the information services provider’s stock valued at $1,486,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOG. Jefferies Financial Group lifted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays lifted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank lifted their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock valued at $16,600,078 over the last ninety days. 12.99% of the stock is owned by insiders.

Alphabet Stock Down 0.6 %

GOOG opened at $187.07 on Wednesday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The firm’s fifty day moving average price is $193.42 and its two-hundred day moving average price is $176.27. The company has a market capitalization of $2.29 trillion, a P/E ratio of 23.24, a P/E/G ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its 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, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 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.