Prospect Financial Group LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,839 shares of the information services provider's stock, valued at approximately $350,000.
Several other hedge funds have also made changes to their positions in the stock. Weiss Asset Management LP bought a new stake in shares of Alphabet in the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the third quarter worth $33,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet in the 4th quarter valued at $43,000. Institutional investors own 27.26% of the company's stock.
Insider Activity at Alphabet
In other news, CAO Amie Thuener O'toole sold 1,368 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was 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 of the company's stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms have recently commented on GOOG. Scotiabank raised their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a report on Friday, January 24th. Benchmark restated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reissued a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $209.13.
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Alphabet Trading Up 1.7 %
GOOG stock traded up $2.86 during trading on Tuesday, hitting $172.79. The company had a trading volume of 13,811,344 shares, compared to its average volume of 17,855,898. The firm has a 50-day moving average price of $183.93 and a 200-day moving average price of $178.30. Alphabet Inc. has a 12 month low of $148.20 and a 12 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 has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet's payout ratio is 9.94%.
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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