Cottage Street Advisors LLC Has $7.34 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cottage Street Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,561 shares of the information services provider’s stock after selling 293 shares during the period. Alphabet makes up approximately 3.8% of Cottage Street Advisors LLC’s holdings, making the stock its 6th biggest position. Cottage Street Advisors LLC’s holdings in Alphabet were worth $7,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GPS Wealth Strategies Group LLC lifted its position in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. North Forty Two & Co. bought a new position in shares of Alphabet in the fourth quarter valued at $281,000. Coldstream Capital Management Inc. lifted its position in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after acquiring an additional 14,738 shares during the last quarter. Requisite Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter worth $927,000. Finally, Stevens Capital Management LP grew its holdings in shares of Alphabet by 172.9% in the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after acquiring an additional 57,810 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ GOOG opened at $172.79 on Wednesday. The firm has a market cap of $2.11 trillion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock’s 50-day moving average is $183.56 and its two-hundred day moving average is $178.44. Alphabet Inc. has a fifty-two week low of $148.20 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 1.84.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the company’s 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 owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOG shares. Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Scotiabank upped their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $209.13.

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.