AssuredPartners Investment Advisors LLC Makes New $2.13 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

AssuredPartners Investment Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, HoldingsChannel reports. The firm acquired 11,202 shares of the information services provider’s stock, valued at approximately $2,133,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GPS Wealth Strategies Group LLC lifted its stake 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 purchasing an additional 1,041 shares during the period. North Forty Two & Co. purchased a new position in Alphabet during the fourth quarter worth about $281,000. Coldstream Capital Management Inc. boosted its stake in Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after buying an additional 14,738 shares during the last quarter. Requisite Capital Management LLC purchased a new stake in Alphabet in the 4th quarter valued at about $927,000. Finally, Stevens Capital Management LP increased its stake in shares of Alphabet by 172.9% during the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after acquiring an additional 57,810 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG opened at $167.14 on Thursday. Alphabet Inc. has a twelve month low of $148.20 and a twelve month high of $208.70. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.34 and a beta of 1.03. 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 fifty day simple moving average of $182.96 and a 200 day simple moving average of $178.36.

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, 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%. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Buying and Selling at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 in the last three months. Corporate 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.