Hobbs Group Advisors LLC Increases Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Hobbs Group Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 66.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,904 shares of the information services provider's stock after buying an additional 2,360 shares during the period. Hobbs Group Advisors LLC's holdings in Alphabet were worth $1,124,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Alphabet in the fourth quarter valued at approximately $5,166,070,000. Raymond James Financial Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth $1,551,533,000. GQG Partners LLC raised its position in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Alphabet by 5,712.8% during the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider's stock worth $831,810,000 after acquiring an additional 4,292,689 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Alphabet in the 4th quarter valued at about $328,018,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.2 %

Shares of GOOG traded up $0.26 during midday trading on Monday, hitting $156.32. The company had a trading volume of 20,568,563 shares, compared to its average volume of 18,885,270. Alphabet Inc. has a 1 year low of $148.20 and a 1 year high of $208.70. The firm has a market capitalization of $1.91 trillion, a P/E ratio of 19.42, a P/E/G ratio of 1.34 and a beta of 1.03. 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 company's 50-day simple moving average is $181.53 and its 200-day simple moving average is $178.69.

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Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results 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 net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOOG. Cantor Fitzgerald restated a "neutral" rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank lifted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Friday, January 24th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $208.56.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,992 shares of company stock valued at $16,097,111 in the last three months. 12.99% of the stock is currently owned by company insiders.

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.