AFG Fiduciary Services Limited Partnership Takes $220,000 Position in Alphabet Inc. (NASDAQ:GOOG)

AFG Fiduciary Services Limited Partnership acquired a new stake in Alphabet Inc. (NASDAQ:GOOGFree Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,117 shares of the information services provider’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new stake in shares of Alphabet in the third quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet in the third quarter valued at approximately $33,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth approximately $40,000. Sanctuary Wealth Management L.L.C. raised its stake in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC raised its position in shares of Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after buying an additional 84 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOG shares. Citigroup increased their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

View Our Latest Stock Analysis on Alphabet

Alphabet Trading Up 1.2 %

Shares of GOOG stock opened at $201.90 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.47 trillion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The business has a 50-day moving average price of $187.39 and a two-hundred day moving average price of $175.23. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the firm earned $1.55 EPS. The company’s revenue was up 15.1% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

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

About Alphabet

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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