1,392 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Ridgeline Wealth LLC

Ridgeline Wealth LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 1,392 shares of the information services provider’s stock, valued at approximately $263,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ShankerValleau Wealth Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $387,000. Canandaigua National Trust Co of Florida grew its holdings in shares of Alphabet by 29.0% in the 4th quarter. Canandaigua National Trust Co of Florida now owns 11,571 shares of the information services provider’s stock worth $2,190,000 after acquiring an additional 2,600 shares during the period. Advance Capital Management Inc. raised its holdings in Alphabet by 3.2% during the fourth quarter. Advance Capital Management Inc. now owns 8,903 shares of the information services provider’s stock worth $1,685,000 after purchasing an additional 272 shares during the last quarter. Oliver Luxxe Assets LLC boosted its position in Alphabet by 0.6% during the fourth quarter. Oliver Luxxe Assets LLC now owns 47,967 shares of the information services provider’s stock worth $9,080,000 after purchasing an additional 296 shares in the last quarter. Finally, Fortem Financial Group LLC grew its holdings in Alphabet by 11.9% in the fourth quarter. Fortem Financial Group LLC now owns 19,115 shares of the information services provider’s stock valued at $3,619,000 after purchasing an additional 2,035 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the transaction, the director now directly owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock valued at $27,996,356 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 2.6 %

Shares of GOOGL traded up $5.08 during mid-day trading on Monday, reaching $196.87. 29,540,574 shares of the stock traded hands, compared to its average volume of 22,834,023. The firm has a market cap of $2.41 trillion, a price-to-earnings ratio of 26.11, a P/E/G ratio of 1.35 and a beta of 0.98. The stock has a fifty day simple moving average of $180.24 and a 200 day simple moving average of $172.46. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business posted $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio is presently 10.61%.

Analysts Set New Price Targets

GOOGL has been the topic of several recent research reports. Wolfe Research boosted their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday. Roth Mkm increased their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Finally, DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price target for the company. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $206.82.

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.