Csenge Advisory Group Sells Shares of Alphabet Inc. (NASDAQ:GOOG)
Csenge Advisory Group reduced its holdings in Alphabet Inc. (NASDAQ:GOOG) by 30.7% during the fourth quarter.
- The institutional investor now owns 14,997 shares of Alphabet’s stock after selling 6,644 shares during the quarter.
- At the end of the most recent reporting period, Csenge’s holdings were valued at $2,856,000.
Several other hedge funds have also made adjustments to their holdings of GOOG.
- Weiss Asset Management LP purchased a new stake valued at approximately $25,000.
- Fiduciary Advisors Inc. and Safe Harbor Fiduciary LLC also acquired new positions in the fourth quarter, valued at $27,000 and $33,000, respectively.
- Sanctuary Wealth Management L.L.C. increased its holdings by 87.3% during the third quarter, now owning 251 shares worth $42,000.
- Maryland Capital Advisors Inc. boosted its stake by 33.0%, now holding 266 shares valued at $51,000.
- Institutional investors collectively own 27.26% of the company’s stock.
Alphabet Price Performance
Alphabet’s stock (GOOG) traded down by $0.28 on Thursday, reaching $186.85.
- The stock saw a trading volume of 12,039,887 shares, below its average volume of 17,613,438.
- GOOG has a market capitalization of $2.28 trillion, with a P/E ratio of 23.21, a P/E/G ratio of 1.34, and a beta of 1.00.
- Its 50-day moving average stands at $194.35, while the 200-day moving average is $177.01.
- The stock has a 52-week low of $131.55 and a 52-week high of $208.70.
- Alphabet’s financial ratios include a current ratio of 1.84, a quick ratio of 1.84, and a debt-to-equity ratio of 0.03.
In its most recent earnings report for the quarter ending February 4th, Alphabet reported $2.15 EPS, exceeding analysts’ consensus estimate of $2.12.
- The company posted a net margin of 28.60% and a return on equity of 32.49%.
- Analysts predict that Alphabet will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
Alphabet has declared a quarterly dividend of $0.20 per share, payable on March 17th.
- Shareholders of record on March 10th will receive the dividend, with the ex-dividend date also set for March 10th.
- This represents an annualized dividend of $0.80 and a dividend yield of 0.43%.
- The company’s payout ratio is 9.94%.
Wall Street Analyst Opinions
Several analysts have weighed in on GOOG shares.
- Pivotal Research raised its price target on Alphabet from $215.00 to $225.00, maintaining a “buy” rating.
- UBS Group increased its target price from $187.00 to $192.00, with a “neutral” rating.
- Jefferies Financial Group set a new target price of $235.00, reaffirming a “buy” rating.
- Scotiabank raised its price objective from $212.00 to $240.00, giving a “sector outperform” rating.
- Wedbush set a $220.00 price objective, maintaining an “outperform” rating.
- The stock currently holds a “Moderate Buy” consensus rating, with an average target price of $209.13.
Insider Activity
There has been notable insider trading activity at Alphabet.
- Director John L. Hennessy sold 1,500 shares on December 12th, receiving $291,330 from the transaction.
- Following the sale, Hennessy owns 23,324 shares valued at $4.53 million, a 6.04% decrease in his position.
- CAO Amie Thuener O’Toole sold 1,367 shares on December 2nd for $232,950.47, reducing her ownership by 5.49%.
- Over the last quarter, insiders sold 116,609 shares, totaling $21.81 million.
- 12.99% of Alphabet’s stock is currently owned by insiders.
Alphabet Company Profile
Alphabet Inc. is a global leader in providing various services through its major segments: Google Services, Google Cloud, and Other Bets.
- The Google Services segment includes products like Ads, Android, Gmail, Google Drive, YouTube, and more.
- Alphabet operates across multiple regions, including the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America.
