Absher Wealth Management LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Absher Wealth Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,281 shares of the information services provider’s stock after buying an additional 65 shares during the quarter. Absher Wealth Management LLC’s holdings in Alphabet were worth $1,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter worth $27,000. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet in the third quarter valued at $33,000. Sanctuary Wealth Management L.L.C. increased its holdings in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares during the last quarter. Finally, Iron Horse Wealth Management LLC increased its holdings in Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after acquiring an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on GOOG shares. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company raised their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Citigroup boosted 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. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

GOOG opened at $187.14 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.29 trillion, a P/E ratio of 23.25, a PEG ratio of 1.39 and a beta of 1.00. The stock has a 50-day moving average price of $193.12 and a 200-day moving average price of $176.13. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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 analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,529 shares of company stock valued at $16,600,078. 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.