Pathstone Holdings LLC Has $163.62 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Pathstone Holdings LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 858,646 shares of the information services provider’s stock after selling 37,626 shares during the quarter. Alphabet makes up about 0.7% of Pathstone Holdings LLC’s holdings, making the stock its 23rd largest position. Pathstone Holdings LLC’s holdings in Alphabet were worth $163,620,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in Alphabet during the fourth quarter worth about $5,166,070,000. Raymond James Financial Inc. purchased a new position in shares of Alphabet in the 4th quarter worth approximately $1,551,533,000. Northern Trust Corp grew its holdings in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares in the last quarter. GQG Partners LLC increased its position in shares of Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after acquiring an additional 7,221,746 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,824 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,815,948.32. This trade represents a 15.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock worth $30,153,353 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

GOOG stock opened at $160.89 on Wednesday. The firm has a 50 day moving average of $160.39 and a 200-day moving average of $176.86. The firm has a market capitalization of $1.95 trillion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GOOG shares. KeyCorp reduced their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. UBS Group dropped their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Scotiabank reduced their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Finally, Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $203.94.

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.