Fi3 FINANCIAL ADVISORS LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Fi3 FINANCIAL ADVISORS LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 7,841 shares of the information services provider’s stock after purchasing an additional 797 shares during the quarter. Alphabet comprises about 0.6% of Fi3 FINANCIAL ADVISORS LLC’s holdings, making the stock its 25th biggest position. Fi3 FINANCIAL ADVISORS LLC’s holdings in Alphabet were worth $1,493,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GOOG. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the third quarter worth $25,000. Fiduciary Advisors Inc. purchased a new position in Alphabet during the fourth quarter worth about $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the third quarter worth about $33,000. Noble Wealth Management PBC purchased a new position in Alphabet during the fourth quarter worth about $43,000. Finally, FPC Investment Advisory Inc. boosted its stake 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 during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock worth $17,374,274 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $166.25 on Friday. 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 firm has a market capitalization of $2.03 trillion, a P/E ratio of 20.65, a P/E/G ratio of 1.34 and a beta of 1.03. The firm’s 50 day moving average is $184.37 and its two-hundred day moving average is $177.94. Alphabet Inc. has a 52 week low of $148.20 and a 52 week high of $208.70.

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

Alphabet Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Scotiabank increased their target price 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. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” 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. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.