Wingate Wealth Advisors Inc. Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Wingate Wealth Advisors Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 12,161 shares of the information services provider's stock, valued at approximately $2,302,000. Alphabet comprises 2.3% of Wingate Wealth Advisors Inc.'s investment portfolio, making the stock its 9th largest holding.

Other large investors also recently modified their holdings of the company. LMR Partners LLP purchased a new position in Alphabet in the 3rd quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $39,000. Denver PWM LLC grew its position in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet during the 3rd quarter valued at $66,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. JMP Securities restated a "market perform" rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, January 6th. The Goldman Sachs Group restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Wolfe Research boosted their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Finally, Citizens Jmp lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.62.

Insider Transactions at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company's stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock valued at $25,055,751 over the last three months. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Down 2.7 %

Shares of NASDAQ GOOGL traded down $4.90 during midday trading on Friday, hitting $179.66. The stock had a trading volume of 35,094,289 shares, compared to its average volume of 28,166,218. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The company has a market cap of $2.19 trillion, a P/E ratio of 22.32, a PEG ratio of 1.34 and a beta of 0.99. The business's 50 day moving average is $192.46 and its 200-day moving average is $175.69.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. As a group, analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.45%. Alphabet's payout ratio is presently 9.94%.

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.