Spinnaker Trust Buys 898 Shares of Alphabet Inc. (NASDAQ:GOOG)

Spinnaker Trust boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,435 shares of the information services provider’s stock after buying an additional 898 shares during the period. Alphabet makes up 1.4% of Spinnaker Trust’s holdings, making the stock its 15th biggest holding. Spinnaker Trust’s holdings in Alphabet were worth $21,603,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GOOG. Weiss Asset Management LP acquired a new stake in Alphabet during the third quarter worth approximately $25,000. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. boosted its stake in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Maryland Capital Advisors Inc. boosted its stake in Alphabet by 33.0% during the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock worth $51,000 after acquiring an additional 66 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.6 %

Shares of NASDAQ:GOOG opened at $185.67 on Wednesday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The company has a market capitalization of $2.27 trillion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The business has a fifty day moving average price of $194.56 and a two-hundred day moving average price of $176.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the company’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,029 shares of company stock worth $12,625,003. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GOOG shares. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Scotiabank upped their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.