Grantvest Financial Group LLC Invests $301,000 in Alphabet Inc. (NASDAQ:GOOG)

Grantvest Financial Group LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,581 shares of the information services provider's stock, valued at approximately $301,000.

A number of other institutional investors have also recently modified their holdings of the business. Sterling Financial Planning Inc. raised its stake in shares of Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after buying an additional 50 shares during the period. Arlington Trust Co LLC increased its holdings in Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock worth $2,747,000 after acquiring an additional 52 shares in the last quarter. Harrell Investment Partners LLC raised its position in Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider's stock worth $1,078,000 after acquiring an additional 53 shares during the period. Ethos Financial Group LLC lifted its holdings in Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after purchasing an additional 53 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its position in shares of Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider's stock valued at $966,000 after purchasing an additional 54 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

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Alphabet Trading Up 1.7 %

Shares of NASDAQ GOOG traded up $2.86 during mid-day trading on Tuesday, reaching $172.79. 13,791,642 shares of the company's stock were exchanged, compared to its average volume of 17,844,933. The company's 50-day moving average is $183.93 and its 200-day moving average is $178.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $148.20 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results 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%. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research reports. Rosenblatt Securities reaffirmed a "neutral" rating on shares of Alphabet in a research note on Wednesday, March 19th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Scotiabank increased their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.13.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 1,368 shares of Alphabet stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the 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 sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,048 shares of company stock worth $17,374,274. Insiders own 12.99% of the company's stock.

About Alphabet

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.