Momentous Wealth Management Inc. Takes $708,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Momentous Wealth Management Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, Holdings Channel reports. The fund acquired 3,718 shares of the information services provider’s stock, valued at approximately $708,000. Alphabet comprises about 0.6% of Momentous Wealth Management Inc.’s holdings, making the stock its 15th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. Weiss Asset Management LP bought a new stake in shares of Alphabet in the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. bought a new stake in Alphabet during the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the 3rd quarter worth approximately $33,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet in the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet during the fourth quarter worth $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research reports. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Scotiabank boosted their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Up 2.2 %

NASDAQ GOOG opened at $169.93 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.34 and a beta of 1.03. The company has a 50 day moving average of $183.93 and a 200-day moving average of $178.30. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,048 shares of company stock valued at $17,374,274. Company insiders own 12.99% of the company’s stock.

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.