Wise Wealth Partners Invests $279,000 in Alphabet Inc. (NASDAQ:GOOG)

Wise Wealth Partners acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,464 shares of the information services provider’s stock, valued at approximately $279,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parvin Asset Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $88,000. Headland Capital LLC acquired a new stake in Alphabet during the fourth quarter worth $468,000. Rehmann Capital Advisory Group lifted its stake in shares of Alphabet by 9.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 55,373 shares of the information services provider’s stock valued at $10,545,000 after purchasing an additional 4,575 shares during the last quarter. Navigoe LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $380,000. Finally, WealthCollab LLC grew its holdings in shares of Alphabet by 47.6% during the 4th quarter. WealthCollab LLC now owns 4,791 shares of the information services provider’s stock worth $912,000 after purchasing an additional 1,545 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of GOOG opened at $162.06 on Wednesday. The company has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a 50-day simple moving average of $163.26 and a 200-day simple moving average of $177.23. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm earned $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 target price on shares of Alphabet in a research report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $203.94.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company’s 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 transaction, the director now directly owns 272,466 shares in the company, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,163 shares of company stock valued at $25,361,647. 12.99% of the stock is owned by company insiders.

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.