Founders Grove Wealth Partners LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Founders Grove Wealth Partners LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,616 shares of the information services provider’s stock, valued at approximately $689,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sunburst Financial Group LLC lifted its stake in Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after buying an additional 60 shares during the last quarter. Johnson Financial Group LLC lifted its position in Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 60 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Alphabet by 0.7% during the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after purchasing an additional 60 shares during the period. Phillips Financial Management LLC grew its position in Alphabet by 1.6% in the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after purchasing an additional 61 shares during the last quarter. Finally, Goodman Advisory Group LLC increased its stake in shares of Alphabet by 2.3% in the third quarter. Goodman Advisory Group LLC now owns 2,674 shares of the information services provider’s stock valued at $447,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOG. Pivotal Research boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group lifted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group increased their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citigroup upped their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Performance

GOOG opened at $194.48 on Friday. The business has a fifty day simple moving average of $185.32 and a 200-day simple moving average of $174.70. The firm has a market cap of $2.38 trillion, a PE ratio of 25.79, a P/E/G ratio of 1.21 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $202.88.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter last year, the business posted $1.55 EPS. Alphabet’s revenue was up 15.1% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. Alphabet’s dividend payout ratio is currently 10.61%.

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.