Archvest Wealth Advisors Inc. Lowers Position in Alphabet Inc. (NASDAQ:GOOG)

Archvest Wealth Advisors Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,103 shares of the information services provider’s stock after selling 72 shares during the quarter. Archvest Wealth Advisors Inc.’s holdings in Alphabet were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. M&G PLC purchased a new position in Alphabet during the third quarter valued at $2,240,000. GPS Wealth Strategies Group LLC raised its stake in Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after buying an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after buying an additional 14,738 shares during the last quarter. Metis Global Partners LLC raised its stake in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after buying an additional 4,292 shares during the last quarter. Finally, Requisite Capital Management LLC purchased a new position in Alphabet during the fourth quarter valued at $927,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,529 shares of company stock valued at $16,600,078. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Performance

Shares of GOOG opened at $187.07 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The firm has a market capitalization of $2.29 trillion, a P/E ratio of 23.24, a PEG ratio of 1.39 and a beta of 1.00. The business has a fifty day moving average of $193.42 and a 200 day moving average of $176.27.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 10th. 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.