Magnus Financial Group LLC Has $2.17 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Magnus Financial Group LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,406 shares of the information services provider’s stock after buying an additional 247 shares during the quarter. Magnus Financial Group LLC’s holdings in Alphabet were worth $2,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Veracity Capital LLC lifted its holdings in shares of Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after acquiring an additional 1,173 shares during the period. Independence Bank of Kentucky boosted its position in Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares in the last quarter. Washington Trust Bank grew its stake in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after buying an additional 1,826 shares during the last quarter. CNB Bank grew its stake in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after buying an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC increased its holdings in shares of Alphabet by 1.9% during the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after buying an additional 155 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,209 shares of company stock worth $36,711,144. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $167.90 on Tuesday. The stock has a market cap of $2.09 trillion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.59 and a beta of 1.05. Alphabet Inc. has a 12-month low of $104.50 and a 12-month high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $149.64 and its 200 day simple moving average is $142.97.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 6.8 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GOOG shares. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Stifel Nicolaus upped their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Raymond James upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $165.67.

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.