Global Wealth Management Investment Advisory Inc. Grows Stake in Alphabet Inc. (NASDAQ:GOOG)

Global Wealth Management Investment Advisory Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,241 shares of the information services provider’s stock after buying an additional 123 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Alphabet were worth $617,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Bristlecone Advisors LLC lifted its holdings in Alphabet by 2.2% in the 4th quarter. Bristlecone Advisors LLC now owns 64,249 shares of the information services provider’s stock worth $12,236,000 after buying an additional 1,378 shares during the period. Powell Investment Advisors LLC lifted its stake in shares of Alphabet by 10.3% in the 4th quarter. Powell Investment Advisors LLC now owns 2,553 shares of the information services provider’s stock valued at $486,000 after purchasing an additional 238 shares during the period. Soltis Investment Advisors LLC lifted its stake in shares of Alphabet by 32.9% in the 4th quarter. Soltis Investment Advisors LLC now owns 27,543 shares of the information services provider’s stock valued at $5,245,000 after purchasing an additional 6,823 shares during the period. Cornerstone Planning Group LLC lifted its stake in shares of Alphabet by 3.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,333 shares of the information services provider’s stock valued at $452,000 after purchasing an additional 67 shares during the period. Finally, Opal Wealth Advisors LLC lifted its stake in shares of Alphabet by 13.0% in the 4th quarter. Opal Wealth Advisors LLC now owns 4,786 shares of the information services provider’s stock valued at $911,000 after purchasing an additional 552 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Pivotal Research raised their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Canaccord Genuity Group raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Performance

Shares of GOOG opened at $187.88 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The firm has a market capitalization of $2.30 trillion, a P/E ratio of 23.34, a PEG ratio of 1.39 and a beta of 1.00. The business has a fifty day moving average of $193.89 and a 200 day moving average of $176.47.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet 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 transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on 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 transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. 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. 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.