Allworth Financial LP boosted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 175.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 227,617 shares of the information services provider's stock after buying an additional 145,129 shares during the period. Allworth Financial LP's holdings in Alphabet were worth $45,530,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Weiss Asset Management LP purchased a new stake in Alphabet in the third quarter worth about $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in shares of 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 valued at $42,000 after purchasing an additional 117 shares during the last quarter. Finally, Maryland Capital Advisors Inc. lifted its holdings in shares of Alphabet by 33.0% during the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider's stock valued at $51,000 after purchasing an additional 66 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
GOOG stock traded down $4.37 during midday trading on Friday, hitting $182.27. 11,208,700 shares of the stock traded hands, compared to its average volume of 17,409,787. The firm has a market cap of $2.22 trillion, a P/E ratio of 22.64, a PEG ratio of 1.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock's fifty day simple moving average is $194.22 and its 200-day simple moving average is $177.08. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet's payout ratio is presently 9.94%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Wedbush reiterated an "outperform" rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $209.13.
Read Our Latest Research Report on Alphabet
Insider Buying and Selling at Alphabet
In related news, Director John L. Hennessy sold 1,500 shares of the company's stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now directly owns 23,324 shares of the company's stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,609 shares of company stock worth $21,809,990 in the last ninety days. 12.99% of the stock is owned by insiders.
Alphabet Company Profile
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Free Report)
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.
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