Premier Path Wealth Partners LLC Buys 2,731 Shares of Alphabet Inc. (NASDAQ:GOOG)

Premier Path Wealth Partners LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 36,700 shares of the information services provider's stock after buying an additional 2,731 shares during the period. Alphabet accounts for approximately 1.1% of Premier Path Wealth Partners LLC's holdings, making the stock its 24th biggest position. Premier Path Wealth Partners LLC's holdings in Alphabet were worth $6,989,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Redhawk Wealth Advisors Inc. grew its stake in Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider's stock worth $966,000 after purchasing an additional 54 shares in the last quarter. Sunburst Financial Group LLC lifted its holdings in Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider's stock worth $495,000 after buying an additional 60 shares during the last quarter. Johnson Financial Group LLC grew its position in shares of Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider's stock worth $395,000 after acquiring an additional 60 shares in the last quarter. Fortitude Family Office LLC increased its stake in Alphabet by 0.7% during the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider's stock valued at $1,585,000 after purchasing an additional 60 shares during the last quarter. Finally, Phillips Financial Management LLC raised its holdings in shares of Alphabet by 1.6% during the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider's stock worth $644,000 after purchasing an additional 61 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 1.6 %

Shares of GOOG stock opened at $197.55 on Monday. The stock has a 50-day simple moving average of $185.92 and a 200 day simple moving average of $174.85. The stock has a market capitalization of $2.42 trillion, a P/E ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the firm posted $1.55 EPS. The business's revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet's dividend payout ratio (DPR) is 10.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GOOG shares. Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Finally, Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They issued a "sector outperform" rating and a $212.00 price objective on the stock. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,834 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company's stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 12.99% of the company's stock.

About Alphabet

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.