Heron Bay Capital Management Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Heron Bay Capital Management grew its position in Alphabet Inc. (NASDAQ:GOOG) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,687 shares of the information services provider’s stock after acquiring an additional 312 shares during the quarter. Heron Bay Capital Management’s holdings in Alphabet were worth $3,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at $27,000. Weiss Asset Management LP bought a new position in shares of Alphabet in the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the third quarter worth about $33,000. Noble Wealth Management PBC bought a new stake in Alphabet during the fourth quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. raised its position in Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on 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 approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GOOG shares. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a report on Wednesday. Oppenheimer raised their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $166.25 on Friday. The firm has a market cap of $2.03 trillion, a PE ratio of 20.65, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $148.20 and a fifty-two 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. The business’s fifty day moving average is $184.37 and its two-hundred day moving average is $178.07.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors 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 dividend payout ratio (DPR) is 9.94%.

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.