SPC Financial Inc. Acquires 590 Shares of Alphabet Inc. (NASDAQ:GOOG)

SPC Financial Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 32.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,415 shares of the information services provider’s stock after purchasing an additional 590 shares during the quarter. SPC Financial Inc.’s holdings in Alphabet were worth $460,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. M&G PLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $2,240,000. GPS Wealth Strategies Group LLC boosted its position in shares of Alphabet by 6.8% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after acquiring an additional 1,041 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares in the last quarter. Metis Global Partners LLC boosted its position in shares of Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after acquiring an additional 4,292 shares in the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $927,000. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction 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 completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,316 shares of company stock valued at $25,062,887 over the last quarter. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $174.21 on Friday. Alphabet Inc. has a twelve month low of $132.66 and a twelve month high of $208.70. The firm has a fifty day simple moving average of $190.22 and a 200 day simple moving average of $177.89. The company has a market capitalization of $2.12 trillion, a PE ratio of 21.64, a P/E/G ratio of 1.34 and a beta of 1.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

GOOG has been the topic of a number of research analyst reports. Scotiabank raised their target price on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Oppenheimer raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $209.13.

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.