Financial Advocates Investment Management Has $6.10 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Financial Advocates Investment Management boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,033 shares of the information services provider’s stock after purchasing an additional 1,405 shares during the period. Financial Advocates Investment Management’s holdings in Alphabet were worth $6,100,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the fourth quarter valued at about $27,000. Weiss Asset Management LP bought a new position in shares of Alphabet in the third quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet in the third quarter worth about $33,000. Sanctuary Wealth Management L.L.C. boosted its stake in shares of Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 3.2 %

Alphabet stock opened at $187.14 on Monday. The company has a market capitalization of $2.29 trillion, a PE ratio of 23.25, a PEG ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The firm’s fifty day moving average is $193.12 and its 200 day moving average is $176.13. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Barclays increased 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. Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Jefferies Financial Group boosted their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.13.

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.