Cabot Wealth Management Inc. Has $23.32 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Cabot Wealth Management Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 122,474 shares of the information services provider’s stock after buying an additional 1,119 shares during the period. Alphabet comprises approximately 3.0% of Cabot Wealth Management Inc.’s investment portfolio, making the stock its 5th biggest position. Cabot Wealth Management Inc.’s holdings in Alphabet were worth $23,324,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Swedbank AB boosted its stake in Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after purchasing an additional 51,226 shares during the period. Autumn Glory Partners LLC boosted its stake in Alphabet by 55.1% in the 3rd quarter. Autumn Glory Partners LLC now owns 6,927 shares of the information services provider’s stock worth $1,158,000 after purchasing an additional 2,462 shares during the period. Orrstown Financial Services Inc. acquired a new position in Alphabet in the 3rd quarter worth approximately $837,000. Hunter Associates Investment Management LLC boosted its stake in Alphabet by 4.6% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 17,294 shares of the information services provider’s stock worth $2,893,000 after purchasing an additional 755 shares during the period. Finally, Smith Group Asset Management LLC boosted its stake in Alphabet by 22.3% in the 3rd quarter. Smith Group Asset Management LLC now owns 14,307 shares of the information services provider’s stock worth $2,392,000 after purchasing an additional 2,610 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock valued at $25,055,751 over the last three months. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. UBS Group lifted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price 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. Finally, Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

Shares of Alphabet stock opened at $174.70 on Thursday. 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 capitalization of $2.13 trillion, a price-to-earnings ratio of 21.70, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The firm’s 50-day moving average price is $192.98 and its two-hundred day moving average price is $177.64.

Alphabet (NASDAQ:GOOG) last issued 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 net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts predict that Alphabet Inc. will post 8.89 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. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is currently 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.