Grant GrossMendelsohn LLC Buys Shares of 6,237 Alphabet Inc. (NASDAQ:GOOG)

Grant GrossMendelsohn LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,237 shares of the information services provider's stock, valued at approximately $1,188,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter worth approximately $25,000. Abich Financial Wealth Management LLC increased its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider's stock worth $34,000 after buying an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth $33,000. HWG Holdings LP purchased a new position in shares of Alphabet in the 2nd quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in Alphabet by 87.3% in 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 acquiring an additional 117 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Jefferies Financial Group raised their price objective on Alphabet from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Oppenheimer raised their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Finally, Citizens Jmp lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued 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 target price of $200.56.

Alphabet Stock Up 1.6 %

Shares of GOOG stock traded up $3.14 during mid-day trading on Friday, reaching $197.55. 21,974,853 shares of the company were exchanged, compared to its average volume of 16,381,408. The company has a market capitalization of $2.42 trillion, a P/E ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99. The business's 50 day simple moving average is $185.92 and its 200 day simple moving average is $174.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $1.55 EPS. Research analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet's payout ratio is currently 10.61%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 2,834 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business's stock in a transaction dated 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 approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 in the last quarter. 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.