International Private Wealth Advisors LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,924 shares of the information services provider's stock, valued at approximately $554,000.
A number of other institutional investors have also recently bought and sold shares of the company. First National Corp MA ADV boosted its position in Alphabet by 2.1% during the fourth quarter. First National Corp MA ADV now owns 17,343 shares of the information services provider's stock valued at $3,283,000 after purchasing an additional 353 shares during the last quarter. Global Wealth Management Investment Advisory Inc. lifted its position in shares of Alphabet by 8.5% in the fourth quarter. Global Wealth Management Investment Advisory Inc. now owns 30,655 shares of the information services provider's stock worth $5,803,000 after buying an additional 2,392 shares during the last quarter. Bristlecone Advisors LLC lifted its position in shares of Alphabet by 2.3% in the fourth quarter. Bristlecone Advisors LLC now owns 125,186 shares of the information services provider's stock worth $23,698,000 after buying an additional 2,841 shares during the last quarter. Sycomore Asset Management lifted its position in shares of Alphabet by 165.5% in the fourth quarter. Sycomore Asset Management now owns 47,803 shares of the information services provider's stock worth $9,049,000 after buying an additional 29,799 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in shares of Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after buying an additional 53 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the company. KeyCorp boosted their price target on Alphabet from $215.00 to $225.00 and gave the stock an "overweight" rating in a research report on Friday, January 10th. Roth Mkm boosted their price target on Alphabet from $206.00 to $212.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. China Renaissance raised Alphabet from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $210.62.
Read Our Latest Research Report on GOOGL
Alphabet Stock Down 2.7 %
Shares of NASDAQ:GOOGL traded down $4.90 during midday trading on Friday, reaching $179.66. The company had a trading volume of 35,094,289 shares, compared to its average volume of 28,166,218. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business's 50 day moving average price is $192.46 and its 200 day moving average price is $175.69. The stock has a market cap of $2.19 trillion, a PE ratio of 22.32, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05.
Alphabet (NASDAQ:GOOGL - 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 analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.
Insider Transactions at Alphabet
In other news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock worth $25,055,751 over the last quarter. Company insiders own 11.55% of the company's stock.
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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