Aveo Capital Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 49.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,275 shares of the information services provider's stock after purchasing an additional 3,061 shares during the quarter. Aveo Capital Partners LLC's holdings in Alphabet were worth $1,766,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Empire Life Investments Inc. boosted its holdings in shares of Alphabet by 8.2% during the 4th quarter. Empire Life Investments Inc. now owns 290,224 shares of the information services provider's stock valued at $55,270,000 after buying an additional 21,874 shares in the last quarter. PineStone Asset Management Inc. bought a new stake in shares of Alphabet during the 4th quarter valued at $956,000. Scarborough Advisors LLC boosted its holdings in shares of Alphabet by 24.0% during the 4th quarter. Scarborough Advisors LLC now owns 2,726 shares of the information services provider's stock valued at $519,000 after buying an additional 527 shares in the last quarter. Spinnaker Trust boosted its holdings in shares of Alphabet by 0.8% during the 4th quarter. Spinnaker Trust now owns 113,435 shares of the information services provider's stock valued at $21,603,000 after buying an additional 898 shares in the last quarter. Finally, Maryland Capital Advisors Inc. boosted its holdings in shares of Alphabet by 33.0% during the 4th quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider's stock valued at $51,000 after buying an additional 66 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Canaccord Genuity Group upped their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.13.
Check Out Our Latest Research Report on Alphabet
Insider Activity
In other news, Director Kavitark Ram Shriram sold 37,134 shares of the company's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 1,367 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company's stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 116,609 shares of company stock valued at $21,809,990 in the last quarter. 12.99% of the stock is currently owned by insiders.
Alphabet Stock Performance
GOOG traded down $0.28 during midday trading on Thursday, hitting $186.85. 12,039,887 shares of the company traded hands, compared to its average volume of 17,613,438. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The firm has a market capitalization of $2.28 trillion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company's 50-day moving average is $194.22 and its 200 day moving average is $177.08.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS 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%. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet's payout ratio is currently 9.94%.
Alphabet Company Profile
(
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.
Featured Stories
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
