Clarity Wealth Development LLC Invests $486,000 in Alphabet Inc. (NASDAQ:GOOG)

Clarity Wealth Development LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,365 shares of the information services provider’s stock, valued at approximately $486,000. Alphabet comprises 0.5% of Clarity Wealth Development LLC’s investment portfolio, making the stock its 28th biggest position.

Several other hedge funds have also recently modified their holdings of the business. FMR LLC increased its position in Alphabet by 5.2% during 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 during the last quarter. Geode Capital Management LLC increased its position in Alphabet by 0.3% during 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Alphabet by 10.3% during 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 during the last quarter. Charles Schwab Investment Management Inc. increased its position in Alphabet by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock valued at $5,870,181,000 after acquiring an additional 875,480 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Alphabet by 9.1% during 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 during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Wedbush reiterated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Morgan Stanley reissued 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 assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 in the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $166.57 on Tuesday. The stock has a market capitalization of $2.03 trillion, a PE ratio of 20.69, a P/E/G ratio of 1.34 and a beta of 1.03. The business has a 50 day simple moving average of $186.78 and a two-hundred day simple moving average of $178.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $147.01 and a 1-year high of $208.70.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio 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.