FLC Capital Advisors Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

FLC Capital Advisors cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,863 shares of the information services provider’s stock after selling 1,650 shares during the quarter. Alphabet accounts for approximately 1.0% of FLC Capital Advisors’ holdings, making the stock its 27th biggest position. FLC Capital Advisors’ holdings in Alphabet were worth $4,354,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Providence Capital Advisors LLC increased its stake in shares of Alphabet by 54.5% during the second quarter. Providence Capital Advisors LLC now owns 87,333 shares of the information services provider’s stock worth $16,019,000 after acquiring an additional 30,801 shares during the period. Cheviot Value Management LLC acquired a new position in Alphabet during the 2nd quarter worth approximately $256,000. Mill Creek Capital Advisors LLC raised its stake in shares of Alphabet by 7.3% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 22,025 shares of the information services provider’s stock worth $4,040,000 after buying an additional 1,498 shares in the last quarter. Treynor Bancshares Inc. acquired a new stake in shares of Alphabet in the 2nd quarter valued at approximately $211,000. Finally, K2 Principal Fund L.P. boosted its stake in shares of Alphabet by 350.4% in the second quarter. K2 Principal Fund L.P. now owns 6,756 shares of the information services provider’s stock valued at $1,239,000 after buying an additional 5,256 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Citigroup lifted their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was 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 directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock valued at $24,368,654. Insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.1 %

Shares of Alphabet stock opened at $199.63 on Wednesday. The firm has a market cap of $2.44 trillion, a PE ratio of 26.48, a P/E/G ratio of 1.25 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The business’s fifty day moving average is $186.23 and its two-hundred day moving average is $174.83.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 earnings per share. Analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. Alphabet’s payout ratio is 10.61%.

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.