Elevation Wealth Partners LLC Has $2.85 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Elevation Wealth Partners LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,973 shares of the information services provider’s stock after selling 741 shares during the quarter. Alphabet comprises about 1.2% of Elevation Wealth Partners LLC’s holdings, making the stock its 17th largest position. Elevation Wealth Partners LLC’s holdings in Alphabet were worth $2,851,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GOOG. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the third quarter worth $25,000. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the fourth quarter worth $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the third quarter worth $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC grew its holdings in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. UBS Group raised their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Stock Up 1.3 %

GOOG opened at $187.88 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The company’s 50-day moving average is $193.89 and its 200 day moving average is $176.47. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The firm has a market capitalization of $2.30 trillion, a P/E ratio of 23.34, a PEG ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. Research analysts expect 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. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,529 shares of company stock worth $16,600,078. Insiders own 12.99% of the company’s stock.

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.