Burns J W & Co. Inc. NY Has $26.74 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Burns J W & Co. Inc. NY grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 140,430 shares of the information services provider’s stock after buying an additional 643 shares during the period. Alphabet comprises 3.4% of Burns J W & Co. Inc. NY’s holdings, making the stock its 5th biggest position. Burns J W & Co. Inc. NY’s holdings in Alphabet were worth $26,743,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. M&G PLC bought a new position in shares of Alphabet in the third quarter worth approximately $2,240,000. Coldstream Capital Management Inc. boosted its holdings in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after buying an additional 14,738 shares during the period. Metis Global Partners LLC raised its holdings in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after acquiring an additional 4,292 shares during the period. Stevens Capital Management LP grew its position in shares of Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after purchasing an additional 57,810 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its holdings in Alphabet by 10.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after buying an additional 5,892 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOG opened at $192.29 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $184.55 and a 200 day moving average of $174.49. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88. The stock has a market cap of $2.35 trillion, a P/E ratio of 25.50, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This represents a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,053 shares of company stock worth $27,559,701. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several research analyst reports. Jefferies Financial Group boosted their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays raised their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Finally, Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet 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.