Abacus Wealth Partners LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Abacus Wealth Partners LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,129 shares of the information services provider’s stock after acquiring an additional 100 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Alphabet were worth $977,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Weiss Asset Management LP bought a new stake in shares of Alphabet in the 3rd quarter valued at about $25,000. Abich Financial Wealth Management LLC increased its holdings in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares during the period. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the third quarter worth approximately $33,000. HWG Holdings LP purchased a new stake in Alphabet during the second quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. boosted its position in 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 acquiring an additional 117 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.2 %

GOOG stock opened at $200.03 on Thursday. The company has a market capitalization of $2.45 trillion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $203.84. The firm’s fifty day simple moving average is $186.56 and its 200-day simple moving average is $174.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

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

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of analyst reports. Oppenheimer upped their price objective on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Citigroup increased their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank initiated coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Pivotal Research increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by corporate insiders.

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.