Stonebridge Financial Group LLC Purchases Shares of 10,584 Alphabet Inc. (NASDAQ:GOOG)

Stonebridge Financial Group LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, Holdings Channel reports. The fund acquired 10,584 shares of the information services provider’s stock, valued at approximately $2,016,000.

Several other institutional investors also recently modified their holdings of the stock. Creative Planning raised its position in shares of Alphabet by 6.4% during the 3rd quarter. Creative Planning now owns 1,544,297 shares of the information services provider’s stock valued at $256,177,000 after buying an additional 92,556 shares in the last quarter. Swedbank AB increased its stake in Alphabet by 0.6% in the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after acquiring an additional 51,226 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in Alphabet by 9.8% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 4,861 shares of the information services provider’s stock valued at $813,000 after purchasing an additional 434 shares in the last quarter. B.O.S.S. Retirement Advisors LLC bought a new stake in Alphabet during the third quarter worth about $232,000. Finally, SPC Financial Inc. boosted its holdings in shares of Alphabet by 16.6% in the 3rd quarter. SPC Financial Inc. now owns 1,825 shares of the information services provider’s stock worth $305,000 after purchasing an additional 260 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 in the last quarter. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GOOG shares. Jefferies Financial Group boosted their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group boosted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a 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 company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Scotiabank raised their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Down 0.5 %

Shares of Alphabet stock opened at $186.87 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The company has a market cap of $2.29 trillion, a P/E ratio of 23.21, a PEG ratio of 1.39 and a beta of 1.00. The company’s fifty day simple moving average is $194.16 and its two-hundred day simple moving average is $176.54.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.