Forum Financial Management LP Acquires 4,091 Shares of Alphabet Inc. (NASDAQ:GOOG)

Forum Financial Management LP boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,278 shares of the information services provider's stock after acquiring an additional 4,091 shares during the period. Alphabet accounts for about 0.2% of Forum Financial Management LP's portfolio, making the stock its 29th biggest position. Forum Financial Management LP's holdings in Alphabet were worth $13,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of GOOG. Fiduciary Advisors Inc. bought a new position in Alphabet in the fourth quarter valued at about $27,000. LSV Asset Management bought a new position in shares of Alphabet during the fourth quarter valued at $27,000. WealthTrak Capital Management LLC bought a new position in Alphabet during the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Alphabet in the 4th quarter worth approximately $43,000. Institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Alphabet stock traded down $2.14 during midday trading on Friday, hitting $153.36. 19,461,666 shares of the company's stock were exchanged, compared to its average volume of 19,427,163. The stock has a 50-day moving average price of $167.16 and a two-hundred day moving average price of $177.55. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a market cap of $1.87 trillion, a P/E ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is currently 9.94%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GOOG. Benchmark reissued a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer upped their price target on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Rosenblatt Securities reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Finally, Westpark Capital assumed coverage on shares of Alphabet in a research report on Tuesday, April 1st. They issued a "buy" rating and a $210.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $210.88.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value 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. The trade was a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares of the company's stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock valued at $25,361,647 over the last 90 days. Insiders own 12.99% of the company's stock.

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.