Runnymede Capital Advisors Inc. Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Runnymede Capital Advisors Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,950 shares of the information services provider’s stock, valued at approximately $1,324,000. Alphabet accounts for about 1.2% of Runnymede Capital Advisors Inc.’s holdings, making the stock its 18th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter valued at about $27,000. Weiss Asset Management LP purchased a new stake in Alphabet during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet during the third quarter worth about $33,000. Noble Wealth Management PBC purchased a new stake in Alphabet during the fourth quarter worth about $43,000. Finally, FPC Investment Advisory Inc. increased its stake in Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after purchasing an additional 167 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Oppenheimer boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research note on Wednesday. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

Shares of GOOG opened at $166.25 on Friday. The stock has a 50 day moving average price of $184.37 and a 200 day moving average price of $177.94. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $148.20 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Activity

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is currently owned by company insiders.

About Alphabet

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.