Grove Street Fiduciary LLC Takes $243,000 Position in Alphabet Inc. (NASDAQ:GOOG)

Grove Street Fiduciary LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,276 shares of the information services provider’s stock, valued at approximately $243,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB grew its stake 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 worth $1,394,181,000 after acquiring an additional 51,226 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in Alphabet by 2.0% in the third quarter. NorthCrest Asset Manangement LLC now owns 56,210 shares of the information services provider’s stock worth $9,398,000 after purchasing an additional 1,103 shares during the last quarter. Viewpoint Capital Management LLC raised its stake in Alphabet by 16.4% during the 3rd quarter. Viewpoint Capital Management LLC now owns 7,193 shares of the information services provider’s stock valued at $1,189,000 after buying an additional 1,012 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in shares of Alphabet by 15,926.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 594,907 shares of the information services provider’s stock valued at $99,463,000 after buying an additional 591,195 shares during the period. Finally, First Bank & Trust boosted its stake in shares of Alphabet by 0.5% in the 3rd quarter. First Bank & Trust now owns 28,076 shares of the information services provider’s stock worth $4,694,000 after buying an additional 127 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Down 0.2 %

NASDAQ GOOG opened at $181.19 on Tuesday. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70. 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 stock has a market cap of $2.21 trillion, a PE ratio of 22.51, a P/E/G ratio of 1.34 and a beta of 1.00. The stock’s 50 day moving average is $193.68 and its 200 day moving average is $177.58.

Alphabet (NASDAQ:GOOG) last released its 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%. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on 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 owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,299 shares of company stock worth $25,055,751 in the last three months. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GOOG shares. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Jefferies Financial Group increased their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.