Bremer Bank National Association Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Bremer Bank National Association cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the 4th quarter, HoldingsChannel reports. The fund owned 15,401 shares of the information services provider’s stock after selling 320 shares during the quarter. Bremer Bank National Association’s holdings in Alphabet were worth $2,933,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GOOG. BlueSky Wealth Advisors LLC raised its position in Alphabet by 2.4% in the 4th quarter. BlueSky Wealth Advisors LLC now owns 31,063 shares of the information services provider’s stock worth $5,916,000 after purchasing an additional 726 shares during the period. Strong Tower Advisory Services boosted its position in Alphabet by 3.1% during the fourth quarter. Strong Tower Advisory Services now owns 3,383 shares of the information services provider’s stock valued at $644,000 after buying an additional 103 shares during the period. Wealth Management Partners LLC grew its stake in shares of Alphabet by 0.6% during the fourth quarter. Wealth Management Partners LLC now owns 18,946 shares of the information services provider’s stock valued at $3,608,000 after buying an additional 115 shares during the last quarter. Community Bank of Raymore increased its holdings in shares of Alphabet by 106.4% in the fourth quarter. Community Bank of Raymore now owns 4,809 shares of the information services provider’s stock worth $916,000 after buying an additional 2,479 shares during the period. Finally, Thrive Wealth Management LLC lifted its stake in shares of Alphabet by 55.6% in the 4th quarter. Thrive Wealth Management LLC now owns 35,387 shares of the information services provider’s stock valued at $6,739,000 after acquiring an additional 12,650 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of GOOG opened at $199.63 on Wednesday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The firm’s 50-day simple moving average is $186.23 and its two-hundred day simple moving average is $174.83. The stock has a market cap of $2.44 trillion, a PE ratio of 26.48, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. 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 (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the company earned $1.55 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. UBS Group lifted their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Scotiabank started coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price on the stock. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have given 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 a consensus rating of “Moderate Buy” and an average target price of $200.56.

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.