Tolleson Wealth Management Inc. Invests $460,000 in Alphabet Inc. (NASDAQ:GOOG)

Tolleson Wealth Management Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,415 shares of the information services provider’s stock, valued at approximately $460,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOOG. GPS Wealth Strategies Group LLC boosted its stake in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares in the last quarter. Harvest Investment Services LLC boosted its stake in Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after purchasing an additional 138 shares in the last quarter. North Forty Two & Co. acquired a new stake in Alphabet in the 4th quarter worth approximately $281,000. SageView Advisory Group LLC boosted its stake in Alphabet by 140.6% in the 4th quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider’s stock worth $2,806,000 after purchasing an additional 8,610 shares in the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in Alphabet in the 4th quarter worth approximately $927,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GOOG shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. UBS Group lowered their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. KeyCorp decreased their price objective on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Finally, Susquehanna restated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.94.

Alphabet Stock Performance

GOOG opened at $167.43 on Friday. 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 firm has a fifty day moving average price of $160.19 and a 200 day moving average price of $176.75. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a market cap of $2.03 trillion, a P/E ratio of 20.80, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the previous year, the business posted $1.89 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. 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 announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s payout ratio is currently 9.36%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. The trade was a 29.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,824 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,815,948.32. The trade was a 15.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock worth $30,153,353 in the last three months. Company insiders own 12.99% of the company’s stock.

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.