880 Shares in Alphabet Inc. (NASDAQ:GOOG) Acquired by Rialto Wealth Management LLC

Rialto Wealth Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 880 shares of the information services provider’s stock, valued at approximately $168,000.

A number of other hedge funds have also recently made changes to their positions in GOOG. Weiss Asset Management LP purchased a new stake in Alphabet in the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth $27,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. raised its position in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet during the 4th quarter worth $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,316 shares of company stock worth $25,062,887. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $175.75 on Friday. The company has a market cap of $2.14 trillion, a PE ratio of 21.83, a P/E/G ratio of 1.34 and a beta of 1.03. The business has a 50 day moving average of $189.85 and a 200 day moving average of $178.00. Alphabet Inc. has a 52 week low of $134.80 and a 52 week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last posted its 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 net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wedbush reiterated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Finally, Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

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.