Thrive Wealth Management LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOG)

Thrive Wealth Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 55.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,387 shares of the information services provider’s stock after purchasing an additional 12,650 shares during the period. Alphabet accounts for about 1.2% of Thrive Wealth Management LLC’s portfolio, making the stock its 11th biggest position. Thrive Wealth Management LLC’s holdings in Alphabet were worth $6,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Divergent Planning LLC bought a new stake in shares of Alphabet in the 4th quarter worth about $203,000. Mechanics Bank Trust Department raised its position in Alphabet by 11.1% in the 4th quarter. Mechanics Bank Trust Department now owns 32,360 shares of the information services provider’s stock worth $6,163,000 after purchasing an additional 3,245 shares during the period. Lincoln Capital LLC lifted its stake in Alphabet by 1.9% in the fourth quarter. Lincoln Capital LLC now owns 13,214 shares of the information services provider’s stock worth $2,517,000 after purchasing an additional 245 shares during the last quarter. Diversify Wealth Management LLC boosted its position in shares of Alphabet by 55.7% during the fourth quarter. Diversify Wealth Management LLC now owns 47,158 shares of the information services provider’s stock valued at $9,110,000 after buying an additional 16,867 shares during the period. Finally, Smart Money Group LLC grew its stake in shares of Alphabet by 6.4% during the fourth quarter. Smart Money Group LLC now owns 1,754 shares of the information services provider’s stock valued at $334,000 after buying an additional 105 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on 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 owns 26,349 shares of the company’s stock, valued at $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. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 over the last 90 days. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Oppenheimer raised their price target on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Trading Up 1.1 %

NASDAQ:GOOG opened at $199.63 on Wednesday. The stock has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.25 and a beta of 0.99. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84. 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 firm has a 50 day moving average of $186.23 and a 200 day moving average of $174.83.

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

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. 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%.

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.