Wealth Alliance Advisory Group LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,959 shares of the information services provider’s stock after purchasing an additional 1,287 shares during the period. Alphabet accounts for approximately 0.9% of Wealth Alliance Advisory Group LLC’s portfolio, making the stock its 25th biggest position. Wealth Alliance Advisory Group LLC’s holdings in Alphabet were worth $4,182,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Redhawk Wealth Advisors Inc. lifted its stake in shares of Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after buying an additional 54 shares in the last quarter. Sunburst Financial Group LLC grew its position in shares of Alphabet by 2.1% during the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after purchasing an additional 60 shares in the last quarter. Johnson Financial Group LLC raised its stake in Alphabet by 2.6% during the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 60 shares during the period. Fortitude Family Office LLC lifted its holdings in Alphabet by 0.7% in the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock worth $1,585,000 after purchasing an additional 60 shares in the last quarter. Finally, Phillips Financial Management LLC boosted its stake in Alphabet by 1.6% in the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after purchasing an additional 61 shares during the period. 27.26% of the stock is owned by institutional investors.
Alphabet Price Performance
GOOG opened at $197.55 on Tuesday. The business has a fifty day moving average of $185.92 and a 200 day moving average of $174.76. The stock has a market cap of $2.42 trillion, a P/E ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s payout ratio is 10.61%.
Analyst Upgrades and Downgrades
GOOG has been the topic of several research analyst reports. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Scotiabank started coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Finally, Citigroup lifted their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.
Check Out Our Latest Analysis on Alphabet
Insider Buying and Selling
In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % 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 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last quarter. 12.99% of the stock is owned by corporate insiders.
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.
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