Coordinated Financial Services Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Coordinated Financial Services Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,324 shares of the information services provider’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. United Community Bank increased its stake in Alphabet by 1.0% in the fourth quarter. United Community Bank now owns 7,497 shares of the information services provider’s stock valued at $1,428,000 after purchasing an additional 75 shares during the last quarter. Barings LLC increased its stake in Alphabet by 1.6% in the fourth quarter. Barings LLC now owns 5,163 shares of the information services provider’s stock valued at $983,000 after purchasing an additional 83 shares during the last quarter. Permanent Capital Management LP acquired a new position in Alphabet in the fourth quarter valued at $1,330,000. Naviter Wealth LLC acquired a new position in Alphabet in the fourth quarter valued at $457,000. Finally, Rialto Wealth Management LLC acquired a new position in Alphabet in the fourth quarter valued at $168,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.9 %

Shares of GOOG opened at $175.75 on Monday. The company has a market capitalization of $2.14 trillion, a P/E ratio of 21.83, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a one year low of $134.80 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50-day moving average price of $189.85 and a 200 day moving average price of $178.07.

Alphabet (NASDAQ:GOOG) last issued its quarterly 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 return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,316 shares of company stock valued at $25,062,887. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on GOOG shares. Oppenheimer upped their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley restated 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 stock a “sector outperform” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

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.