Hilltop Wealth Advisors LLC Invests $257,000 in Alphabet Inc. (NASDAQ:GOOGL)

Hilltop Wealth Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,357 shares of the information services provider’s stock, valued at approximately $257,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. McAlister Sweet & Associates Inc. grew its stake in shares of Alphabet by 1.5% during the fourth quarter. McAlister Sweet & Associates Inc. now owns 28,733 shares of the information services provider’s stock valued at $5,439,000 after buying an additional 425 shares during the last quarter. Range Financial Group LLC grew its position in Alphabet by 2.6% in the 4th quarter. Range Financial Group LLC now owns 3,085 shares of the information services provider’s stock valued at $584,000 after acquiring an additional 78 shares during the last quarter. One Wealth Capital Management LLC purchased a new stake in Alphabet in the fourth quarter worth $1,753,000. Norway Savings Bank increased its stake in Alphabet by 2.0% in the 4th quarter. Norway Savings Bank now owns 34,514 shares of the information services provider’s stock worth $6,534,000 after buying an additional 690 shares during the period. Finally, Strathmore Capital Advisors Inc. bought a new stake in Alphabet during the 4th quarter valued at about $353,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction dated 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 owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at $4,529,987.28. The trade was a 6.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,887 shares of company stock valued at $27,996,356. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of Alphabet stock traded down $0.30 during trading on Wednesday, reaching $195.19. The company’s stock had a trading volume of 13,908,421 shares, compared to its average volume of 21,703,090. The company has a 50-day moving average price of $181.36 and a two-hundred day moving average price of $172.72. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.39 trillion, a PE ratio of 25.89, a P/E/G ratio of 1.35 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the business earned $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Alphabet’s dividend payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GOOGL. Tigress Financial increased their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Wednesday, October 30th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Truist Financial upped their price target 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, Bank of America reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $206.82.

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.