Bartlett & CO. Wealth Management LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bartlett & CO. Wealth Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,428,400 shares of the information services provider’s stock after buying an additional 1,240 shares during the period. Alphabet makes up 3.9% of Bartlett & CO. Wealth Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Bartlett & CO. Wealth Management LLC’s holdings in Alphabet were worth $272,025,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in GOOG. MBB Public Markets I LLC lifted its holdings in shares of Alphabet by 3,586.8% during the 2nd quarter. MBB Public Markets I LLC now owns 361,788 shares of the information services provider’s stock worth $66,359,000 after acquiring an additional 351,975 shares during the period. Matrix Private Capital Group LLC lifted its stake in Alphabet by 6.0% during the second quarter. Matrix Private Capital Group LLC now owns 2,110 shares of the information services provider’s stock worth $387,000 after purchasing an additional 120 shares during the period. Marathon Capital Management boosted its holdings in Alphabet by 7.1% during the second quarter. Marathon Capital Management now owns 11,320 shares of the information services provider’s stock valued at $2,076,000 after purchasing an additional 755 shares in the last quarter. Lummis Asset Management LP grew its stake in shares of Alphabet by 0.4% in the 2nd quarter. Lummis Asset Management LP now owns 18,959 shares of the information services provider’s stock valued at $3,477,000 after purchasing an additional 76 shares during the period. Finally, Select Equity Group L.P. raised its holdings in shares of Alphabet by 1.4% in the 2nd quarter. Select Equity Group L.P. now owns 624,862 shares of the information services provider’s stock worth $114,612,000 after buying an additional 8,807 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,387 shares of company stock worth $24,368,654. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GOOG shares. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Scotiabank lifted their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday. Finally, Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Alphabet Price Performance

Shares of GOOG stock opened at $201.90 on Friday. The firm’s 50 day moving average price is $187.39 and its two-hundred day moving average price is $175.23. The stock has a market cap of $2.47 trillion, a PE ratio of 26.78, a PEG ratio of 1.27 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 debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.55 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.02 EPS for the current 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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet 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.