SoundView Advisors Inc. Makes New $3.62 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

SoundView Advisors Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 19,008 shares of the information services provider’s stock, valued at approximately $3,619,000. Alphabet makes up about 1.5% of SoundView Advisors Inc.’s holdings, making the stock its 14th biggest holding.

Several other hedge funds have also modified their holdings of the stock. Weiss Asset Management LP acquired a new position in shares of Alphabet in the third quarter worth about $25,000. Fiduciary Advisors Inc. acquired a new position in Alphabet during the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the third quarter valued at about $33,000. Noble Wealth Management PBC acquired a new stake in Alphabet in the fourth quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. boosted its holdings in Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after buying an additional 167 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,182 shares of company stock worth $18,192,354. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on GOOG shares. Wedbush reaffirmed an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Finally, Benchmark reaffirmed a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. One equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Down 1.1 %

GOOG opened at $165.98 on Wednesday. The company has a market capitalization of $2.02 trillion, a P/E ratio of 20.62, a P/E/G ratio of 1.34 and a beta of 1.03. 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 firm’s fifty day moving average price is $188.87 and its two-hundred day moving average price is $178.08. Alphabet Inc. has a fifty-two week low of $138.21 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.