Parallel Advisors LLC Acquires 28,646 Shares of Alphabet Inc. (NASDAQ:GOOG)

Parallel Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 322,015 shares of the information services provider’s stock after purchasing an additional 28,646 shares during the period. Alphabet makes up about 1.4% of Parallel Advisors LLC’s investment portfolio, making the stock its 11th largest position. Parallel Advisors LLC’s holdings in Alphabet were worth $61,325,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of GOOG. Weiss Asset Management LP purchased a new position in Alphabet during the third quarter worth $25,000. Fiduciary Advisors Inc. purchased a new position in Alphabet during the fourth quarter worth $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the third quarter worth $33,000. Noble Wealth Management PBC purchased a new position in Alphabet during the fourth quarter worth $43,000. Finally, FPC Investment Advisory Inc. boosted its stake in Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after buying an additional 167 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOG stock opened at $167.62 on Monday. The company has a market capitalization of $2.04 trillion, a P/E ratio of 20.82, a PEG ratio of 1.34 and a beta of 1.03. 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 business has a 50-day moving average price of $187.41 and a 200 day moving average price of $178.10. Alphabet Inc. has a 1-year low of $141.13 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates 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 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.