Meriwether Wealth & Planning LLC Makes New $2.15 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

Meriwether Wealth & Planning LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,291 shares of the information services provider's stock, valued at approximately $2,150,000. Alphabet makes up 1.5% of Meriwether Wealth & Planning LLC's investment portfolio, making the stock its 12th biggest holding.

A number of other large investors have also bought and sold shares of the business. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. grew its stake in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider's stock worth $42,000 after acquiring an additional 117 shares in the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $43,000. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 1.6 %

GOOG traded up $2.62 during trading on Wednesday, hitting $168.60. The company's stock had a trading volume of 10,707,877 shares, compared to its average volume of 18,983,252. Alphabet Inc. has a twelve month low of $140.01 and a twelve month high of $208.70. 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 stock's fifty day moving average price is $188.87 and its 200-day moving average price is $178.08. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 20.90, a PEG ratio of 1.34 and a beta of 1.03.

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Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's dividend payout ratio is presently 9.94%.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now directly owns 23,324 shares in the company, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,182 shares of company stock valued at $18,192,354 in the last 90 days. Insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GOOG shares. The Goldman Sachs Group reissued a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reissued an "outperform" rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Needham & Company LLC reissued a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $209.13.

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.