Florida Financial Advisors LLC Buys 404 Shares of Alphabet Inc. (NASDAQ:GOOG)

Florida Financial Advisors LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 14.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,115 shares of the information services provider’s stock after acquiring an additional 404 shares during the quarter. Florida Financial Advisors LLC’s holdings in Alphabet were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in shares of Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after buying an additional 264,962 shares during the period. Advisors Asset Management Inc. increased its holdings in Alphabet by 7.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,526 shares of the information services provider’s stock worth $2,261,000 after acquiring an additional 909 shares during the last quarter. Penserra Capital Management LLC raised its stake in Alphabet by 1.2% in the 3rd quarter. Penserra Capital Management LLC now owns 12,240 shares of the information services provider’s stock valued at $2,046,000 after acquiring an additional 147 shares during the period. Westfield Capital Management Co. LP lifted its holdings in Alphabet by 2.3% during the third quarter. Westfield Capital Management Co. LP now owns 70,572 shares of the information services provider’s stock valued at $11,799,000 after purchasing an additional 1,580 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its position in Alphabet by 62.0% during the third quarter. Harvest Fund Management Co. Ltd now owns 157,622 shares of the information services provider’s stock worth $26,351,000 after purchasing an additional 60,325 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $169.93 on Tuesday. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.34 and a beta of 1.03. The stock’s 50-day moving average is $183.93 and its 200 day moving average is $178.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data 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 net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Scotiabank upped their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. One 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,048 shares of company stock worth $17,374,274. Company insiders own 12.99% of the company’s stock.

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.