Momentous Wealth Management Inc. Buys Shares of 3,718 Alphabet Inc. (NASDAQ:GOOG)

Momentous Wealth Management Inc. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,718 shares of the information services provider’s stock, valued at approximately $708,000. Alphabet makes up approximately 0.6% of Momentous Wealth Management Inc.’s holdings, making the stock its 15th biggest holding.

Several other large investors have also recently bought and sold shares of the business. Weiss Asset Management LP bought a new stake in shares of Alphabet during the 3rd quarter worth about $25,000. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet during the 4th quarter worth $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the 3rd quarter valued at $33,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet during the 4th quarter worth $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the fourth quarter valued at about $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 2.2 %

Shares of GOOG opened at $169.93 on Tuesday. The company has a market capitalization of $2.07 trillion, a P/E ratio of 21.11, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a one year low of $148.20 and a one year high of $208.70. The business’s 50 day simple moving average is $183.93 and its 200-day simple moving average is $178.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company’s 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 transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,048 shares of company stock worth $17,374,274. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GOOG shares. Wedbush reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Citizens Jmp lowered shares of 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 assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.