FFT Wealth Management LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

FFT Wealth Management LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,536 shares of the information services provider’s stock after buying an additional 324 shares during the period. FFT Wealth Management LLC’s holdings in Alphabet were worth $4,673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. M&G PLC purchased a new position in shares of Alphabet during the third quarter worth approximately $2,240,000. GPS Wealth Strategies Group LLC grew its stake in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after purchasing an additional 1,041 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC raised its position in Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Finally, Requisite Capital Management LLC bought a new stake in Alphabet during the 4th quarter valued at $927,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several research reports. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank lifted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Finally, Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

Shares of GOOG opened at $172.22 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company’s fifty day moving average price is $192.17 and its 200-day moving average price is $177.65. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The firm has a market capitalization of $2.10 trillion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,309 shares of company stock valued at $25,057,490 over the last 90 days. 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.