Carlson Capital Management Buys 301 Shares of Alphabet Inc. (NASDAQ:GOOG)

Carlson Capital Management raised its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,012 shares of the information services provider’s stock after purchasing an additional 301 shares during the period. Carlson Capital Management’s holdings in Alphabet were worth $954,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Clarity Wealth Development LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $486,000. PDS Planning Inc raised its position in Alphabet by 10.9% during the fourth quarter. PDS Planning Inc now owns 34,948 shares of the information services provider’s stock valued at $6,656,000 after purchasing an additional 3,447 shares in the last quarter. Retirement Planning Co of New England Inc. raised its position in Alphabet by 0.4% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock valued at $3,043,000 after purchasing an additional 56 shares in the last quarter. Mystic Asset Management Inc. raised its position in Alphabet by 2.8% during the fourth quarter. Mystic Asset Management Inc. now owns 19,979 shares of the information services provider’s stock valued at $3,805,000 after purchasing an additional 536 shares in the last quarter. Finally, RD Lewis Holdings Inc. acquired a new position in Alphabet during the fourth quarter valued at approximately $2,287,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG opened at $166.57 on Tuesday. The stock has a market capitalization of $2.03 trillion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm’s fifty day simple moving average is $186.78 and its two-hundred day simple moving average is $178.12. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $147.01 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data 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%. As a group, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was 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 is presently 9.94%.

Wall Street Analyst Weigh In

GOOG has been the subject of several research analyst reports. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Benchmark reiterated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group reiterated a “buy” 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 issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Read Our Latest Stock Report on Alphabet

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares in the company, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock worth $17,374,274 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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