Chokshi & Queen Wealth Advisors Inc Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Chokshi & Queen Wealth Advisors Inc acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 11,942 shares of the information services provider’s stock, valued at approximately $2,274,000. Alphabet makes up about 1.4% of Chokshi & Queen Wealth Advisors Inc’s holdings, making the stock its 14th largest position.

A number of other hedge funds also recently made changes to their positions in GOOG. Garde Capital Inc. lifted its holdings in Alphabet by 2.0% during the fourth quarter. Garde Capital Inc. now owns 48,752 shares of the information services provider’s stock valued at $9,284,000 after purchasing an additional 960 shares in the last quarter. Wilkins Miller Wealth Management LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $322,000. Hall Capital Management Co. Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $488,000. Liberty Square Wealth Partners LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $445,000. Finally, Great Valley Advisor Group Inc. boosted its holdings in Alphabet by 5.2% in the 4th quarter. Great Valley Advisor Group Inc. now owns 207,805 shares of the information services provider’s stock worth $39,574,000 after buying an additional 10,243 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on GOOG shares. KeyCorp lowered their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wedbush reiterated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Finally, Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.94.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock valued at $26,793,380 over the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $169.59 on Friday. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50 day moving average price of $160.47 and a 200-day moving average price of $176.60. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Alphabet’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Alphabet 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.