Strategic Financial Concepts LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 29.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,986 shares of the information services provider's stock after buying an additional 1,817 shares during the quarter. Strategic Financial Concepts LLC's holdings in Alphabet were worth $1,521,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Swedbank AB lifted its position in shares of Alphabet by 0.6% during the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider's stock valued at $1,394,181,000 after buying an additional 51,226 shares during the last quarter. Community Financial Services Group LLC lifted its position in shares of Alphabet by 1.4% during the 3rd quarter. Community Financial Services Group LLC now owns 78,118 shares of the information services provider's stock valued at $13,061,000 after buying an additional 1,089 shares during the last quarter. Integrity Wealth Solutions LLC lifted its position in shares of Alphabet by 15.4% during the 3rd quarter. Integrity Wealth Solutions LLC now owns 4,591 shares of the information services provider's stock valued at $768,000 after buying an additional 612 shares during the last quarter. Horst & Graben Wealth Management LLC lifted its holdings in Alphabet by 16.0% during the 3rd quarter. Horst & Graben Wealth Management LLC now owns 2,182 shares of the information services provider's stock worth $365,000 after purchasing an additional 301 shares in the last quarter. Finally, MPS Loria Financial Planners LLC lifted its holdings in Alphabet by 6.3% during the 3rd quarter. MPS Loria Financial Planners LLC now owns 5,266 shares of the information services provider's stock worth $880,000 after purchasing an additional 313 shares in the last quarter. Institutional investors own 27.26% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on GOOG shares. Wedbush restated an "outperform" rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Citizens Jmp lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Scotiabank upped their target price on Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Friday, January 24th. Citigroup upped their target price on Alphabet from $212.00 to $216.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $209.13.
Check Out Our Latest Report on Alphabet
Insiders Place Their Bets
In other news, CAO Amie Thuener O'toole sold 1,367 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now owns 282,832 shares of the company's stock, valued at $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 90 days, insiders sold 116,609 shares of company stock worth $21,809,990. 12.99% of the stock is currently owned by company insiders.
Alphabet Trading Down 2.3 %
GOOG traded down $4.37 on Friday, hitting $182.27. 11,208,700 shares of the company were exchanged, compared to its average volume of 17,409,787. The firm has a fifty day simple moving average of $194.22 and a two-hundred day simple moving average of $177.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The stock has a market capitalization of $2.22 trillion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet's dividend payout ratio (DPR) is currently 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.
Further Reading
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