Allied Investment Advisors LLC Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Allied Investment Advisors LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 1,191 shares of the information services provider’s stock, valued at approximately $227,000.

A number of other hedge funds have also bought and sold shares of the business. Atlas Legacy Advisors LLC bought a new stake in shares of Alphabet in the fourth quarter worth approximately $4,203,000. Bank of Jackson Hole Trust purchased a new stake in Alphabet in the fourth quarter worth approximately $738,000. Klingman & Associates LLC grew its position in Alphabet by 2.2% in the 4th quarter. Klingman & Associates LLC now owns 26,741 shares of the information services provider’s stock worth $5,093,000 after purchasing an additional 585 shares during the period. Callahan Advisors LLC raised its stake in Alphabet by 5.0% during the 4th quarter. Callahan Advisors LLC now owns 257,842 shares of the information services provider’s stock valued at $49,103,000 after buying an additional 12,248 shares during the last quarter. Finally, Mcdonald Partners LLC lifted its holdings in shares of Alphabet by 2.7% during the 4th quarter. Mcdonald Partners LLC now owns 25,598 shares of the information services provider’s stock valued at $4,875,000 after buying an additional 681 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GOOG. Canaccord Genuity Group lifted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Citigroup increased their price objective 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. Barclays boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were 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 in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock valued at $25,055,751 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $181.58 on Friday. The company has a market capitalization of $2.21 trillion, a PE ratio of 22.56, a price-to-earnings-growth ratio of 1.35 and a beta of 1.00. The company’s fifty day moving average price is $194.02 and its 200-day moving average price is $177.22. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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 anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio 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.