Magnolia Private Wealth LLC Takes $624,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Magnolia Private Wealth LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,279 shares of the information services provider’s stock, valued at approximately $624,000.

A number of other institutional investors have also modified their holdings of the company. Weiss Asset Management LP acquired a new stake in Alphabet in the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. boosted its stake 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 purchasing an additional 117 shares in the last quarter. Finally, FPC Investment Advisory Inc. boosted its stake in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after purchasing an additional 167 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,309 shares of company stock valued at $25,057,490. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $172.22 on Friday. The firm has a market cap of $2.10 trillion, a PE ratio of 21.39, a PEG ratio of 1.34 and a beta of 1.00. The firm has a fifty day moving average of $192.17 and a 200 day moving average of $177.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. As a group, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GOOG. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet 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 reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $209.13.

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.