Independent Advisor Alliance grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 263,158 shares of the information services provider's stock after buying an additional 9,909 shares during the quarter. Alphabet makes up about 0.7% of Independent Advisor Alliance's investment portfolio, making the stock its 23rd largest holding. Independent Advisor Alliance's holdings in Alphabet were worth $50,116,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Raymond James Financial Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $1,551,533,000. FMR LLC raised its stake in Alphabet by 5.2% during the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock valued at $19,193,768,000 after buying an additional 5,655,022 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Alphabet by 5,712.8% in the 4th quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider's stock worth $831,810,000 after purchasing an additional 4,292,689 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock worth $5,573,125,000 after acquiring an additional 3,113,395 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Alphabet by 182.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider's stock valued at $422,331,000 after purchasing an additional 1,630,701 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insider Buying and Selling
In other news, Director John L. Hennessy sold 1,500 shares of the company's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now owns 23,324 shares of the company's stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the transaction, the director now directly owns 272,466 shares in the company, 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. In the last three months, insiders have sold 97,182 shares of company stock worth $18,192,354. Insiders own 12.99% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ GOOG traded up $2.62 during trading on Wednesday, reaching $168.60. 10,707,877 shares of the company traded hands, compared to its average volume of 18,983,252. The firm's fifty day simple moving average is $188.87 and its 200 day simple moving average is $178.08. The stock has a market cap of $2.06 trillion, a P/E ratio of 20.90, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $140.01 and a 12-month high of $208.70. 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 (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet's payout ratio is 9.94%.
Analyst Ratings Changes
GOOG has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Scotiabank lifted their target price on Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Friday, January 24th. Wedbush reiterated an "outperform" rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $209.13.
Check Out Our Latest Stock Report on GOOG
Alphabet Company Profile
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Free Report)
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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