Potentia Wealth Acquires Shares of 5,180 Alphabet Inc. (NASDAQ:GOOG)

Potentia Wealth bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,180 shares of the information services provider’s stock, valued at approximately $986,000.

A number of other large investors have also made changes to their positions in GOOG. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the third quarter valued at about $33,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet during the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOG opened at $169.93 on Tuesday. The firm has a fifty day moving average price of $183.93 and a 200 day moving average price of $178.30. The stock has a market cap of $2.07 trillion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. 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 earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research reports. Oppenheimer lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued 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.

Insider Activity at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction dated 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 sale, the insider now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares in the company, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock worth $17,374,274 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

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.