2,314 Shares in Alphabet Inc. (NASDAQ:GOOG) Acquired by Elm3 Financial Group LLC

Elm3 Financial Group LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,314 shares of the information services provider’s stock, valued at approximately $441,000.

Other hedge funds have also bought and sold shares of the company. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter worth approximately $27,000. Weiss Asset Management LP bought a new stake in shares of Alphabet in the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. boosted its stake in shares of 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 valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Alphabet by 32.3% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. Jefferies Financial Group upped their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. 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 research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Scotiabank increased their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Six investment 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 data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Performance

Shares of Alphabet stock opened at $187.14 on Monday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. The firm has a market capitalization of $2.29 trillion, a P/E ratio of 23.25, a P/E/G ratio of 1.39 and a beta of 1.00. 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 business has a fifty day simple moving average of $193.12 and a two-hundred day simple moving average of $176.13.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share 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 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 0.43%. Alphabet’s payout ratio is currently 9.94%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock valued at $16,600,078 in the last 90 days. 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.