InTrack Investment Management Inc Purchases 2,929 Shares of Alphabet Inc. (NASDAQ:GOOG)

InTrack Investment Management Inc raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 46.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,276 shares of the information services provider’s stock after acquiring an additional 2,929 shares during the quarter. Alphabet makes up 1.2% of InTrack Investment Management Inc’s portfolio, making the stock its 24th biggest position. InTrack Investment Management Inc’s holdings in Alphabet were worth $1,772,000 as of its most recent filing with the Securities and Exchange Commission.

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

Alphabet Stock Up 1.6 %

NASDAQ:GOOG opened at $197.55 on Monday. The firm has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. 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 twelve month low of $131.55 and a twelve month high of $202.88. The stock’s 50 day moving average price is $185.92 and its two-hundred day moving average price is $174.85.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOG. Scotiabank started coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective for the company. Jefferies Financial Group boosted their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. 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 90 days. Company insiders own 12.99% of the company’s stock.

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.