Wall Street Financial Group Inc. Buys New Position in Alphabet Inc. (NASDAQ:GOOG)

Wall Street Financial Group Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,099 shares of the information services provider’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Redhawk Wealth Advisors Inc. lifted its stake in shares of Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares in the last quarter. Sunburst Financial Group LLC increased its holdings in Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after purchasing an additional 60 shares during the last quarter. Johnson Financial Group LLC raised its position in shares of Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 60 shares in the last quarter. Fortitude Family Office LLC boosted its stake in shares of Alphabet by 0.7% during the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after buying an additional 60 shares during the last quarter. Finally, Phillips Financial Management LLC grew its position in shares of Alphabet by 1.6% during the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after buying an additional 61 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank started coverage on Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Down 0.2 %

GOOG opened at $199.58 on Friday. The stock’s 50 day moving average price is $186.95 and its 200 day moving average price is $175.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $2.44 trillion, a P/E ratio of 26.47, a P/E/G ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $203.84.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.