Parkshore Wealth Management Inc. Invests $207,000 in Alphabet Inc. (NASDAQ:GOOG)

Parkshore Wealth Management Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,088 shares of the information services provider’s stock, valued at approximately $207,000.

A number of other institutional investors have also recently bought and sold shares of the company. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $27,000. LSV Asset Management acquired a new stake in Alphabet in the fourth quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Up 1.5 %

Shares of NASDAQ GOOG opened at $163.85 on Monday. The firm has a 50-day simple moving average of $164.25 and a two-hundred day simple moving average of $177.35. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $2.00 trillion, a P/E ratio of 20.35, a PEG ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.77. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now owns 7,613 shares of the company’s stock, valued at $1,232,544.70. This represents a 2.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock worth $25,361,647 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Westpark Capital restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday. Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Scotiabank reduced their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Finally, Oppenheimer lifted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $203.94.

Alphabet 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.