Magnus Financial Group LLC Acquires 14,350 Shares of Alphabet Inc. (NASDAQ:GOOG)

Magnus Financial Group LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 82.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,857 shares of the information services provider’s stock after purchasing an additional 14,350 shares during the period. Magnus Financial Group LLC’s holdings in Alphabet were worth $6,067,000 as of its most recent filing with the Securities and Exchange Commission.

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

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $201.90 on Friday. The stock has a market capitalization of $2.47 trillion, a PE ratio of 26.78, a P/E/G ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a fifty day moving average price of $187.39 and a two-hundred day moving average price of $175.23.

Alphabet (NASDAQ:GOOG) last posted 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the business posted $1.55 earnings per share. Alphabet’s revenue was up 15.1% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have weighed in on GOOG. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank boosted their target price on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday. Pivotal Research increased their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares in the company, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. The trade was a 12.05 % 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. Insiders own 12.99% of the company’s stock.

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.