Spectrum Wealth Advisory Group LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Spectrum Wealth Advisory Group LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,350 shares of the information services provider's stock, valued at approximately $1,019,000. Alphabet makes up about 0.5% of Spectrum Wealth Advisory Group LLC's holdings, making the stock its 23rd largest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. M&G PLC acquired a new stake in Alphabet in the 3rd quarter valued at about $2,240,000. GPS Wealth Strategies Group LLC grew its position in shares of Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock valued at $3,094,000 after purchasing an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock worth $19,642,000 after purchasing an additional 14,738 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider's stock worth $50,488,000 after purchasing an additional 4,292 shares during the last quarter. Finally, Requisite Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $927,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 2.7 %

NASDAQ GOOG traded down $5.09 during mid-day trading on Friday, hitting $181.55. The company's stock had a trading volume of 11,759,653 shares, compared to its average volume of 17,428,053. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. The firm has a market capitalization of $2.21 trillion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock's fifty day simple moving average is $194.22 and its two-hundred day simple moving average is $177.08.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Analysts Set New Price Targets

Several research firms have weighed in on GOOG. Scotiabank raised their price target on Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Friday, January 24th. Wedbush reiterated an "outperform" rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $209.13.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 116,609 shares of company stock valued at $21,809,990. Corporate insiders own 12.99% of the company's stock.

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.