Miller Financial Services LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,865 shares of the information services provider's stock, valued at approximately $1,498,000. Alphabet makes up approximately 1.3% of Miller Financial Services LLC's investment portfolio, making the stock its 21st biggest holding.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. FMR LLC boosted its holdings in Alphabet by 5.2% in 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 acquiring an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock valued at $17,247,208,000 after buying an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Alphabet by 10.3% during 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 valued at $5,573,125,000 after buying an additional 3,113,395 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Alphabet by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider's stock valued at $5,870,181,000 after purchasing an additional 875,480 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock worth $2,578,793,000 after purchasing an additional 1,291,274 shares during the last quarter. Institutional investors own 27.26% of the company's stock.
Alphabet Stock Performance
Shares of Alphabet stock traded up $3.19 during trading hours on Wednesday, reaching $169.17. 12,287,423 shares of the stock traded hands, compared to its average volume of 19,015,984. Alphabet Inc. has a one year low of $140.01 and a one year high of $208.70. The firm has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 21.00, a P/E/G ratio of 1.34 and a beta of 1.03. 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 company has a 50 day moving average price of $188.87 and a 200 day moving average price of $178.08.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced 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. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, March 10th. Alphabet's dividend payout ratio is 9.94%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on GOOG shares. Wedbush reaffirmed an "outperform" rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Friday, January 24th. Needham & Company LLC restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.13.
View Our Latest Analysis on GOOG
Insiders Place Their Bets
In other Alphabet news, insider John Kent Walker sold 16,820 shares of the company's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,606,213.28. This represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,182 shares of company stock valued at $18,192,354 over the last three months. 12.99% of the stock is owned by company insiders.
Alphabet 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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