Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Channel Wealth LLC

Channel Wealth LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,725 shares of the information services provider’s stock after acquiring an additional 974 shares during the period. Alphabet comprises 2.8% of Channel Wealth LLC’s investment portfolio, making the stock its 7th biggest position. Channel Wealth LLC’s holdings in Alphabet were worth $8,517,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Redhawk Wealth Advisors Inc. raised its stake in shares of Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after buying an additional 54 shares during the period. Sunburst Financial Group LLC increased its holdings in Alphabet by 2.1% in the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after acquiring an additional 60 shares during the last quarter. Johnson Financial Group LLC raised its stake in Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after acquiring an additional 60 shares during the period. Fortitude Family Office LLC lifted its holdings in Alphabet by 0.7% during the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after purchasing an additional 60 shares during the last quarter. Finally, Phillips Financial Management LLC boosted its position in Alphabet by 1.6% during the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after purchasing an additional 61 shares during the period. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.6 %

GOOG opened at $197.55 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $185.92 and its 200 day simple moving average is $174.93. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $202.88. The stock has a market cap of $2.42 trillion, a PE ratio of 26.20, a P/E/G ratio of 1.21 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the firm posted $1.55 EPS. As a group, research analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s payout ratio is 10.61%.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Wells Fargo & Company raised their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, UBS Group increased their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $200.56.

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.