Acorn Wealth Advisors LLC Has $370,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Acorn Wealth Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,942 shares of the information services provider’s stock after selling 151 shares during the quarter. Acorn Wealth Advisors LLC’s holdings in Alphabet were worth $370,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB raised its position in shares of Alphabet by 0.6% in the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after purchasing an additional 51,226 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its position in shares of Alphabet by 0.6% in the third quarter. Hudson Valley Investment Advisors Inc. ADV now owns 113,127 shares of the information services provider’s stock valued at $18,914,000 after purchasing an additional 623 shares during the period. Cornerstone Wealth Group LLC raised its position in shares of Alphabet by 3.7% in the third quarter. Cornerstone Wealth Group LLC now owns 16,076 shares of the information services provider’s stock valued at $2,688,000 after purchasing an additional 570 shares during the period. S.A. Mason LLC raised its position in shares of Alphabet by 1.5% in the third quarter. S.A. Mason LLC now owns 5,325 shares of the information services provider’s stock valued at $890,000 after purchasing an additional 80 shares during the period. Finally, Goldstone Financial Group LLC bought a new position in shares of Alphabet in the third quarter valued at approximately $461,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent analyst reports. Oppenheimer lifted their price target 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. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Trading Up 1.2 %

Shares of Alphabet stock opened at $172.22 on Friday. The firm has a market capitalization of $2.10 trillion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company’s fifty day moving average price is $192.17 and its two-hundred day moving average price is $177.65. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts expect 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. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,309 shares of company stock worth $25,057,490. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.