Power Wealth Management LLC Makes New $703,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

Power Wealth Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, Holdings Channel.com reports. The fund acquired 4,990 shares of the information services provider’s stock, valued at approximately $703,000.

Other institutional investors have also added to or reduced their stakes in the company. Balboa Wealth Partners lifted its stake in Alphabet by 1.1% in the 3rd quarter. Balboa Wealth Partners now owns 50,268 shares of the information services provider’s stock valued at $6,628,000 after purchasing an additional 552 shares during the last quarter. Vicus Capital grew its stake in Alphabet by 10.3% during the third quarter. Vicus Capital now owns 10,133 shares of the information services provider’s stock worth $1,336,000 after purchasing an additional 946 shares during the period. Satovsky Asset Management LLC grew its stake in Alphabet by 4.5% during the third quarter. Satovsky Asset Management LLC now owns 12,115 shares of the information services provider’s stock worth $1,597,000 after purchasing an additional 520 shares during the period. Aua Capital Management LLC grew its stake in Alphabet by 7.0% during the third quarter. Aua Capital Management LLC now owns 15,856 shares of the information services provider’s stock worth $2,091,000 after purchasing an additional 1,044 shares during the period. Finally, Litman Gregory Wealth Management LLC acquired a new stake in Alphabet during the third quarter worth approximately $9,175,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock traded up $0.53 during mid-day trading on Friday, reaching $168.99. 22,767,056 shares of the company’s stock were exchanged, compared to its average volume of 22,353,938. 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 fifty day simple moving average is $151.46 and its 200 day simple moving average is $143.69. Alphabet Inc. has a one year low of $104.70 and a one year high of $176.42. The firm has a market capitalization of $2.10 trillion, a PE ratio of 25.92, a P/E/G ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm posted $1.17 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 7.66 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Insider Activity

In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 275,129 shares of company stock valued at $40,382,765. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of several recent research reports. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus raised their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target 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.