Cherry Tree Wealth Management LLC Has $575,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cherry Tree Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,017 shares of the information services provider’s stock after purchasing an additional 150 shares during the period. Cherry Tree Wealth Management LLC’s holdings in Alphabet were worth $575,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Colonial River Investments LLC boosted its stake in Alphabet by 6.0% during the fourth quarter. Colonial River Investments LLC now owns 2,621 shares of the information services provider’s stock worth $499,000 after acquiring an additional 149 shares in the last quarter. Birchcreek Wealth Management LLC raised its holdings in shares of Alphabet by 4.9% during the fourth quarter. Birchcreek Wealth Management LLC now owns 2,880 shares of the information services provider’s stock valued at $548,000 after purchasing an additional 135 shares during the period. Black Diamond Financial LLC boosted its position in shares of Alphabet by 3.7% during the 4th quarter. Black Diamond Financial LLC now owns 10,040 shares of the information services provider’s stock worth $1,912,000 after purchasing an additional 360 shares in the last quarter. World Equity Group Inc. grew its stake in shares of Alphabet by 5.8% in the 4th quarter. World Equity Group Inc. now owns 8,769 shares of the information services provider’s stock valued at $1,670,000 after buying an additional 484 shares during the period. Finally, Delta Financial Group Inc. increased its position in Alphabet by 2.3% in the 4th quarter. Delta Financial Group Inc. now owns 28,357 shares of the information services provider’s stock valued at $5,400,000 after buying an additional 649 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ruth Porat sold 17,690 shares of the 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 completion of the transaction, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares in the company, valued at $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,299 shares of company stock valued at $25,055,751 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group increased their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted 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. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Benchmark reiterated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Alphabet Trading Down 1.5 %

NASDAQ GOOG opened at $174.70 on Thursday. The stock has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.00. The business’s fifty day moving average is $192.98 and its 200-day moving average is $177.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick 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 announced its quarterly earnings data 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%. Equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

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.