Spire Wealth Management Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Spire Wealth Management increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,761 shares of the information services provider’s stock after buying an additional 6,377 shares during the period. Spire Wealth Management’s holdings in Alphabet were worth $17,277,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Tandem Wealth Advisors LLC purchased a new position in Alphabet during the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $28,000. Buck Wealth Strategies LLC purchased a new position in Alphabet during the third quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. purchased a new position in Alphabet during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of several recent analyst reports. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Stifel Nicolaus boosted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,129 shares of company stock worth $40,382,765. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.5 %

Shares of GOOG traded up $0.84 during mid-day trading on Monday, reaching $169.83. The company’s stock had a trading volume of 15,123,033 shares, compared to its average volume of 22,754,559. The stock has a market cap of $2.10 trillion, a PE ratio of 25.86, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $105.79 and a 52 week high of $176.42. The company’s fifty day moving average price is $151.46 and its two-hundred day moving average price is $143.74.

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, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the business posted $1.17 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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.