Financial Management Network Inc. Has $3.43 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Financial Management Network Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,783 shares of the information services provider’s stock after buying an additional 228 shares during the period. Financial Management Network Inc.’s holdings in Alphabet were worth $3,434,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Global Retirement Partners LLC grew its stake in Alphabet by 15.2% in the 4th quarter. Global Retirement Partners LLC now owns 83,091 shares of the information services provider’s stock valued at $15,824,000 after buying an additional 10,960 shares during the last quarter. Semus Wealth Partners LLC grew its stake in Alphabet by 6.4% in the 4th quarter. Semus Wealth Partners LLC now owns 18,809 shares of the information services provider’s stock valued at $3,582,000 after buying an additional 1,127 shares during the last quarter. Timber Creek Capital Management LLC grew its stake in Alphabet by 1.1% in the 4th quarter. Timber Creek Capital Management LLC now owns 68,915 shares of the information services provider’s stock valued at $13,124,000 after buying an additional 721 shares during the last quarter. Allied Investment Advisors LLC acquired a new position in Alphabet in the 4th quarter valued at about $227,000. Finally, Atlas Legacy Advisors LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $4,203,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of analyst reports. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush restated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup increased their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock valued at $25,055,751 in the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $181.58 on Friday. The company 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. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $194.02 and a 200-day moving average of $177.34. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate 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, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 10th. 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.