Concurrent Investment Advisors LLC Has $20.38 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Concurrent Investment Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 107,013 shares of the information services provider’s stock after buying an additional 245 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Alphabet were worth $20,380,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter worth about $25,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. boosted its position 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, Maryland Capital Advisors Inc. boosted its position in Alphabet by 33.0% during the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock worth $51,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $181.58 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. The company has a 50-day simple moving average of $194.02 and a two-hundred day simple moving average of $177.45.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research analyst reports. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Citigroup boosted their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Canaccord Genuity Group upped their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock valued at $25,055,751 over the last ninety days. 12.99% of the stock is owned by corporate insiders.

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.