Triangle Securities Wealth Management Has $9.03 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Triangle Securities Wealth Management cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the 4th quarter, Holdings Channel reports. The fund owned 47,424 shares of the information services provider’s stock after selling 982 shares during the period. Alphabet comprises approximately 2.3% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 6th largest position. Triangle Securities Wealth Management’s holdings in Alphabet were worth $9,031,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Sara Bay Financial raised its holdings in shares of Alphabet by 9.3% in the 4th quarter. Sara Bay Financial now owns 2,185 shares of the information services provider’s stock worth $421,000 after acquiring an additional 185 shares during the last quarter. Financial & Tax Architects LLC increased its holdings in Alphabet by 13.6% during the 4th quarter. Financial & Tax Architects LLC now owns 9,223 shares of the information services provider’s stock worth $1,756,000 after purchasing an additional 1,106 shares in the last quarter. Trust Co. of Vermont raised its stake in shares of Alphabet by 1.4% in the fourth quarter. Trust Co. of Vermont now owns 379,163 shares of the information services provider’s stock worth $72,208,000 after purchasing an additional 5,176 shares during the last quarter. Wallington Asset Management LLC raised its position in Alphabet by 0.9% in the 4th quarter. Wallington Asset Management LLC now owns 83,756 shares of the information services provider’s stock valued at $15,950,000 after buying an additional 752 shares during the last quarter. Finally, GoalFusion Wealth Management LLC purchased a new stake in Alphabet in the 4th quarter valued at $279,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” 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, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Performance

Shares of GOOG stock opened at $197.55 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The company has a market capitalization of $2.42 trillion, a P/E ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99. The stock has a 50 day moving average price of $185.92 and a two-hundred day moving average price of $174.85.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. Analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity

In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. Insiders own 12.99% of the company’s stock.

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.