Grant Private Wealth Management Inc Invests $1.74 Million in Alphabet Inc. (NASDAQ:GOOG)

Grant Private Wealth Management Inc bought a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 9,137 shares of the information services provider’s stock, valued at approximately $1,740,000. Alphabet accounts for 1.9% of Grant Private Wealth Management Inc’s holdings, making the stock its 15th largest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new position in shares of Alphabet during the third quarter valued at approximately $25,000. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the 3rd quarter worth $33,000. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet in the 4th quarter worth about $38,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the fourth quarter valued at about $39,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. Westpark Capital initiated coverage on shares of Alphabet in a research report on Tuesday. They set a “buy” rating and a $210.00 target price for the company. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Oppenheimer raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated 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 given a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $208.65.

Alphabet Stock Performance

Alphabet stock opened at $158.86 on Thursday. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. The firm has a market cap of $1.94 trillion, a P/E ratio of 19.73, a P/E/G ratio of 1.34 and a beta of 1.04. 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 firm has a 50-day moving average of $179.06 and a 200-day moving average of $178.56.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,297 shares of company stock valued at $15,936,270. Company 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.