3,764 Shares in Alphabet Inc. (NASDAQ:GOOG) Purchased by Riverbend Wealth Management LLC

Riverbend Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,764 shares of the information services provider's stock, valued at approximately $717,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB raised its stake in shares of Alphabet by 0.6% in the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider's stock worth $1,394,181,000 after buying an additional 51,226 shares during the period. Principal Financial Group Inc. raised its stake in Alphabet by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider's stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the period. Summit Wealth & Retirement Planning Inc. increased its stake in Alphabet by 3.2% in the 3rd quarter. Summit Wealth & Retirement Planning Inc. now owns 5,164 shares of the information services provider's stock worth $863,000 after acquiring an additional 160 shares during the last quarter. Costello Asset Management INC boosted its holdings in shares of Alphabet by 2.3% in the 3rd quarter. Costello Asset Management INC now owns 29,710 shares of the information services provider's stock worth $4,967,000 after purchasing an additional 660 shares during the period. Finally, Liberty Wealth Management LLC boosted its holdings in shares of Alphabet by 0.7% in the 3rd quarter. Liberty Wealth Management LLC now owns 11,270 shares of the information services provider's stock worth $1,884,000 after purchasing an additional 76 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

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Alphabet Stock Performance

Shares of NASDAQ:GOOG traded up $2.88 during trading on Wednesday, hitting $168.86. 11,700,557 shares of the stock traded hands, compared to its average volume of 19,006,480. The company has a fifty day moving average price of $188.87 and a two-hundred day moving average price of $178.08. Alphabet Inc. has a 52-week low of $140.01 and a 52-week high of $208.70. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 20.97, 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.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider now owns 43,981 shares of the company's stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,374 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,606,213.28. The trade was a 8.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,182 shares of company stock valued at $18,192,354. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GOOG. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Wedbush restated an "outperform" rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $209.13.

Alphabet 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.