Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 18.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 168,015 shares of the information services provider’s stock after purchasing an additional 25,736 shares during the period. Alphabet accounts for about 0.7% of Apollon Wealth Management LLC’s portfolio, making the stock its 27th largest position. Apollon Wealth Management LLC’s holdings in Alphabet were worth $31,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter valued at approximately $25,000. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the 3rd quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. lifted its stake in Alphabet by 87.3% during 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 acquiring an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC lifted its stake in 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 acquiring an additional 84 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock valued at $16,600,078 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research reports. Citigroup lifted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Pivotal Research lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $187.07 on Wednesday. The firm has a market cap of $2.29 trillion, a PE ratio of 23.24, a PEG ratio of 1.39 and a beta of 1.00. The firm has a fifty day moving average of $193.42 and a 200 day moving average of $176.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued 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 of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

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.