SoundView Advisors Inc. Invests $3.62 Million in Alphabet Inc. (NASDAQ:GOOG)

SoundView Advisors Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,008 shares of the information services provider's stock, valued at approximately $3,619,000. Alphabet accounts for about 1.5% of SoundView Advisors Inc.'s investment portfolio, making the stock its 14th biggest holding.

Other hedge funds also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new stake in Alphabet during the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter valued at about $33,000. Noble Wealth Management PBC purchased a new position in Alphabet in the 4th quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. grew its position in shares of Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider's stock valued at $46,000 after purchasing an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 1.1 %

Alphabet stock opened at $165.98 on Wednesday. The stock has a 50-day moving average price of $188.87 and a 200 day moving average price of $178.08. Alphabet Inc. has a 52 week low of $138.21 and a 52 week high of $208.70. The stock has a market cap of $2.02 trillion, a PE ratio of 20.62, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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%. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of Alphabet 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 transaction, the director now directly owns 23,324 shares of the company's stock, valued at $4,529,987.28. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,182 shares of company stock worth $18,192,354 in the last three months. Company insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer upped their price target on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Scotiabank increased 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. Finally, Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. 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. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus 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.

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