CGN Advisors LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

CGN Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,532 shares of the information services provider’s stock after selling 350 shares during the quarter. CGN Advisors LLC’s holdings in Alphabet were worth $673,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redhawk Wealth Advisors Inc. increased its stake in Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares during the last quarter. Sunburst Financial Group LLC grew its holdings in Alphabet by 2.1% in the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after buying an additional 60 shares during the period. Johnson Financial Group LLC increased its stake in shares of Alphabet by 2.6% during the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after acquiring an additional 60 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of Alphabet by 0.7% in the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock worth $1,585,000 after acquiring an additional 60 shares during the last quarter. Finally, Phillips Financial Management LLC grew its holdings in Alphabet by 1.6% in the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock valued at $644,000 after purchasing an additional 61 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Scotiabank began coverage on shares of Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Pivotal Research boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $200.56.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 over the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $197.55 on Monday. The firm has a fifty day moving average of $185.92 and a two-hundred day moving average of $174.85. The firm has a market cap of $2.42 trillion, a P/E ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the company earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Alphabet 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.