Broyhill Asset Management Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Broyhill Asset Management purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,000 shares of the information services provider's stock, valued at approximately $1,333,000. Alphabet accounts for approximately 1.2% of Broyhill Asset Management's investment portfolio, making the stock its 26th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. bought a new stake in Alphabet during the 4th quarter valued at about $27,000. LSV Asset Management bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet during the 4th quarter worth $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the 4th quarter valued at $43,000. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the topic of several research reports. Benchmark restated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reissued an "outperform" rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Citizens Jmp lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Oppenheimer increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $208.71.

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Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,690 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the sale, the insider now directly owns 43,111 shares of the company's stock, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet 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 transaction, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,663 shares of company stock worth $20,286,447 over the last quarter. Insiders own 12.99% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOG traded down $3.18 during trading hours on Wednesday, hitting $155.50. 16,903,668 shares of the company were exchanged, compared to its average volume of 19,384,852. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The stock has a market capitalization of $1.90 trillion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.34 and a beta of 1.04. The company's 50 day moving average price is $169.17 and its 200-day moving average price is $177.83.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is 9.94%.

Alphabet Company 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.