Burling Wealth Partners LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Burling Wealth Partners LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 45,747 shares of the information services provider's stock, valued at approximately $8,712,000. Alphabet makes up about 1.8% of Burling Wealth Partners LLC's portfolio, making the stock its 12th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter worth $27,000. LSV Asset Management purchased a new stake in Alphabet during the fourth quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new position in Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet in the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, 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 sold 148,163 shares of company stock valued at $25,361,647 in the last ninety days. Company insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Benchmark reissued a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reiterated an "outperform" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Citigroup reissued a "sell" rating on shares of Alphabet in a research note on Wednesday. Finally, Westpark Capital started coverage on shares of Alphabet in a research report on Tuesday, April 1st. They set a "buy" rating and a $210.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.38.

Alphabet Stock Performance

Alphabet stock opened at $157.97 on Thursday. The stock has a fifty day moving average price of $165.19 and a 200 day moving average price of $177.19. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The firm has a market capitalization of $1.93 trillion, a P/E ratio of 19.62, a PEG ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

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