Crowley Wealth Management Inc. Buys New Position in Alphabet Inc. (NASDAQ:GOOG)

Crowley Wealth Management Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 7,381 shares of the information services provider’s stock, valued at approximately $1,406,000. Alphabet makes up about 1.2% of Crowley Wealth Management Inc.’s investment portfolio, making the stock its 20th largest position.

Other large investors have also modified their holdings of the company. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter worth $27,000. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the 3rd quarter valued at about $33,000. Noble Wealth Management PBC purchased a new stake in Alphabet during the 4th quarter valued at approximately $43,000. Finally, FPC Investment Advisory Inc. lifted its position in Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after acquiring an additional 167 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.7 %

GOOG stock opened at $166.25 on Friday. 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 company’s 50 day simple moving average is $184.37 and its 200-day simple moving average is $178.07. Alphabet Inc. has a 12 month low of $148.20 and a 12 month high of $208.70. The firm has a market capitalization of $2.03 trillion, a PE ratio of 20.65, a P/E/G ratio of 1.34 and a beta of 1.03.

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, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. 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 (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent research reports. Rosenblatt Securities reissued a “neutral” rating on shares of Alphabet in a report on Wednesday. Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alphabet in a report on Wednesday. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Oppenheimer lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

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.