Secure Asset Management LLC Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Secure Asset Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,013 shares of the information services provider’s stock after buying an additional 570 shares during the quarter. Secure Asset Management LLC’s holdings in Alphabet were worth $2,478,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Verde Capital Management grew its position in Alphabet by 9.5% in the 4th quarter. Verde Capital Management now owns 18,303 shares of the information services provider’s stock valued at $3,486,000 after acquiring an additional 1,588 shares in the last quarter. Seros Financial LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $282,000. Red Door Wealth Management LLC increased its stake in Alphabet by 6.9% during the 4th quarter. Red Door Wealth Management LLC now owns 96,385 shares of the information services provider’s stock worth $18,355,000 after buying an additional 6,220 shares during the period. Madrona Financial Services LLC lifted its holdings in Alphabet by 2.4% during the 4th quarter. Madrona Financial Services LLC now owns 7,631 shares of the information services provider’s stock worth $1,453,000 after buying an additional 176 shares in the last quarter. Finally, Market Street Wealth Management Advisors LLC purchased a new position in Alphabet in the 4th quarter valued at approximately $212,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. The trade was a 13.70 % 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, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This represents a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,387 shares of company stock valued at $24,368,654. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of recent research reports. Barclays upped their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Citigroup lifted their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.

Alphabet Stock Up 1.2 %

Alphabet stock opened at $201.90 on Friday. The stock has a 50-day simple moving average of $187.95 and a 200-day simple moving average of $175.31. The company has a market capitalization of $2.47 trillion, a P/E ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84.

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, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

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

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.