Persium Advisors LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Persium Advisors LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,348 shares of the information services provider’s stock, valued at approximately $257,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Weiss Asset Management LP bought a new position in shares of Alphabet during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the 3rd quarter valued at $33,000. Abich Financial Wealth Management LLC raised its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. HWG Holdings LP bought a new position in shares of Alphabet during the 2nd quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 1.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,053 shares of company stock worth $27,559,701. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Pivotal Research raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Price Performance

Shares of Alphabet stock opened at $192.29 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm’s 50-day simple moving average is $184.55 and its 200-day simple moving average is $174.49. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The firm has a market cap of $2.35 trillion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.