Leo Wealth LLC Purchases 7,918 Shares of Alphabet Inc. (NASDAQ:GOOG)

Leo Wealth LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 35.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,135 shares of the information services provider’s stock after acquiring an additional 7,918 shares during the period. Leo Wealth LLC’s holdings in Alphabet were worth $5,739,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Encompass Wealth Advisors LLC raised its holdings in Alphabet by 9.5% in the 4th quarter. Encompass Wealth Advisors LLC now owns 4,669 shares of the information services provider’s stock worth $889,000 after acquiring an additional 407 shares during the last quarter. Consolidated Portfolio Review Corp raised its holdings in Alphabet by 51.1% in the 4th quarter. Consolidated Portfolio Review Corp now owns 12,214 shares of the information services provider’s stock worth $2,326,000 after acquiring an additional 4,132 shares during the last quarter. Citrine Capital LLC purchased a new stake in Alphabet during the 4th quarter valued at $606,000. GHP Investment Advisors Inc. raised its stake in Alphabet by 1.0% during the 4th quarter. GHP Investment Advisors Inc. now owns 115,968 shares of the information services provider’s stock valued at $22,085,000 after buying an additional 1,110 shares during the last quarter. Finally, Oakworth Capital Inc. raised its stake in Alphabet by 0.8% during the 4th quarter. Oakworth Capital Inc. now owns 179,492 shares of the information services provider’s stock valued at $34,182,000 after buying an additional 1,415 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.6 %

Shares of Alphabet stock opened at $188.20 on Tuesday. The company has a market capitalization of $2.30 trillion, a P/E ratio of 23.38, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The company has a fifty day moving average of $193.12 and a 200 day moving average of $176.14. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business 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 dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 16,820 shares of the 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 completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock valued at $16,600,078 in the last 90 days. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. 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. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Pivotal Research boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus 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.