Red Crane Wealth Management LLC Buys Shares of 1,263 Alphabet Inc. (NASDAQ:GOOG)

Red Crane Wealth Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,263 shares of the information services provider’s stock, valued at approximately $241,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in shares of Alphabet by 87.3% during 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 buying an additional 117 shares during the last quarter. Finally, FPC Investment Advisory Inc. grew its holdings in shares of Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after buying an additional 167 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,309 shares of company stock worth $25,057,490 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.2 %

Shares of GOOG stock opened at $172.22 on Friday. The company has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.39, a PEG ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The company’s fifty day moving average price is $192.17 and its 200-day moving average price is $177.73. 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 (NASDAQ:GOOG) last announced 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%. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is 9.94%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Scotiabank increased their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

About Alphabet

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.