BostonPremier Wealth LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

BostonPremier Wealth LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,885 shares of the information services provider’s stock, valued at approximately $1,311,000. Alphabet comprises approximately 0.8% of BostonPremier Wealth LLC’s investment portfolio, making the stock its 17th biggest position.

Other large investors also recently modified their holdings of the company. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $27,000. Weiss Asset Management LP bought a new stake in Alphabet in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in shares of Alphabet by 87.3% in 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 last quarter. Finally, Compass Financial Services Inc purchased a new position in shares of Alphabet in the fourth quarter worth $65,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Canaccord Genuity Group raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays increased their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup boosted their target price on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Trading Down 0.5 %

NASDAQ GOOG opened at $186.87 on Friday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $194.16 and its 200-day moving average price is $176.54. The stock has a market cap of $2.29 trillion, a P/E ratio of 23.21, a P/E/G ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 annualized dividend and a yield of 0.43%. Alphabet’s dividend payout ratio is 9.94%.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,529 shares of company stock valued at $16,600,078. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.