Alphabet Inc. (NASDAQ:GOOG) Stake Reduced by Corient Private Wealth LLC

Corient Private Wealth LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,546,075 shares of the information services provider’s stock after selling 10,948 shares during the quarter. Alphabet comprises about 1.7% of Corient Private Wealth LLC’s investment portfolio, making the stock its 8th biggest position. Corient Private Wealth LLC’s holdings in Alphabet were worth $1,049,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 0.3% during the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock worth $17,247,208,000 after acquiring an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Alphabet by 10.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after acquiring an additional 3,113,395 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Alphabet by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock worth $5,870,181,000 after acquiring an additional 875,480 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock worth $2,578,793,000 after acquiring an additional 1,291,274 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,882 shares of company stock valued at $17,934,130. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $167.62 on Friday. Alphabet Inc. has a 12 month low of $141.13 and a 12 month high of $208.70. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.82, a PEG ratio of 1.34 and a beta of 1.03. The stock’s 50 day moving average price is $187.41 and its 200 day moving average price is $178.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last announced its 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 return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is 9.94%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research reports. Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark reiterated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.13.

About Alphabet

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.