Finer Wealth Management Inc. Acquires 736 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Finer Wealth Management Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,617 shares of the information services provider’s stock after acquiring an additional 736 shares during the quarter. Alphabet accounts for approximately 4.0% of Finer Wealth Management Inc.’s investment portfolio, making the stock its 7th largest position. Finer Wealth Management Inc.’s holdings in Alphabet were worth $6,932,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth about $24,383,677,000. FMR LLC boosted its position in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the period. Wellington Management Group LLP grew its holdings in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares during the last quarter. Proficio Capital Partners LLC increased its position in Alphabet by 20,990.0% in the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after acquiring an additional 6,157,413 shares during the period. Finally, Amundi raised its stake in shares of Alphabet by 18.7% during the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after acquiring an additional 4,694,621 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GOOGL shares. Rosenblatt Securities reissued a “neutral” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Roth Mkm reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Mizuho decreased their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research report on Tuesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Thursday, April 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $200.74.

Alphabet Stock Down 1.5 %

Shares of NASDAQ GOOGL opened at $151.08 on Friday. The business has a 50-day simple moving average of $165.14 and a two-hundred day simple moving average of $175.77. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a market cap of $1.84 trillion, a P/E ratio of 18.77, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued 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%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,163 shares of company stock worth $25,361,647. Corporate insiders own 11.55% of the company’s stock.

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.