Alphabet Inc. (NASDAQ:GOOG) Position Increased by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 34,892 shares of the information services provider’s stock after buying an additional 1,624 shares during the quarter. Alphabet makes up 2.5% of Granite Bay Wealth Management LLC’s portfolio, making the stock its 15th biggest position. Granite Bay Wealth Management LLC’s holdings in Alphabet were worth $6,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Weiss Asset Management LP bought a new stake in Alphabet in the third quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the 3rd quarter valued at about $33,000. Abich Financial Wealth Management LLC boosted its stake in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. HWG Holdings LP bought a new position in Alphabet in the 2nd quarter worth about $40,000. Finally, Sanctuary Wealth Management L.L.C. increased its stake 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 valued at $42,000 after purchasing an additional 117 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 0.6 %

Shares of GOOG opened at $191.05 on Wednesday. The business’s 50-day moving average price is $184.95 and its 200 day moving average price is $174.55. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.34 trillion, a P/E ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio is 10.61%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,553 shares of company stock valued at $23,817,951. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOG. Citigroup increased their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

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.