Able Wealth Management LLC Acquires 287 Shares of Alphabet Inc. (NASDAQ:GOOG)

Able Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,738 shares of the information services provider’s stock after purchasing an additional 287 shares during the period. Able Wealth Management LLC’s holdings in Alphabet were worth $521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC boosted its stake in Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC boosted its stake in Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after acquiring an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares in the last quarter. Jennison Associates LLC boosted its stake in Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, 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 value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated 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 approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,299 shares of company stock valued at $25,055,751. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Scotiabank raised their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citigroup raised their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Trading Down 2.7 %

Shares of Alphabet stock opened at $181.58 on Monday. 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 has a fifty day moving average price of $194.02 and a 200 day moving average price of $177.45. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The stock has a market cap of $2.21 trillion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.34 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%. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. Alphabet’s payout ratio is 9.94%.

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.