Wealthspire Advisors LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Wealthspire Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 176,240 shares of the information services provider’s stock after purchasing an additional 11,034 shares during the quarter. Wealthspire Advisors LLC’s holdings in Alphabet were worth $33,563,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB boosted its position in shares of Alphabet by 0.6% during the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after buying an additional 51,226 shares during the period. Ellis Investment Partners LLC lifted its stake in Alphabet by 10.0% during the 3rd quarter. Ellis Investment Partners LLC now owns 41,119 shares of the information services provider’s stock worth $6,875,000 after acquiring an additional 3,737 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in Alphabet by 8.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 116,039 shares of the information services provider’s stock worth $19,401,000 after acquiring an additional 9,118 shares in the last quarter. OMNI 360 Wealth Inc. boosted its holdings in Alphabet by 5.7% during the 3rd quarter. OMNI 360 Wealth Inc. now owns 4,851 shares of the information services provider’s stock valued at $811,000 after acquiring an additional 262 shares during the period. Finally, Sterling Investment Advisors Ltd. grew its position in Alphabet by 0.4% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 18,921 shares of the information services provider’s stock valued at $3,163,000 after acquiring an additional 71 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on GOOG shares. Citigroup increased their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wedbush reiterated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Canaccord Genuity Group lifted their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the company’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 completion of the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 134,299 shares of company stock valued at $25,055,751. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $177.37 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $208.70. The firm’s 50 day moving average is $193.29 and its two-hundred day moving average is $177.66. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 22.03, a P/E/G ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted 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%. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

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.