Forum Financial Management LP Has $13 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Forum Financial Management LP increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 68,278 shares of the information services provider’s stock after acquiring an additional 4,091 shares during the quarter. Alphabet comprises 0.2% of Forum Financial Management LP’s investment portfolio, making the stock its 29th biggest position. Forum Financial Management LP’s holdings in Alphabet were worth $13,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its stake in shares of Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after acquiring an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after buying an additional 1,219,606 shares in the last quarter. Capital International Investors boosted its stake in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after buying an additional 5,758,244 shares during the period. Sanders Capital LLC grew its position in Alphabet by 14.5% during the fourth quarter. Sanders Capital LLC now owns 33,504,543 shares of the information services provider’s stock worth $6,380,605,000 after buying an additional 4,247,379 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Alphabet by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock valued at $5,870,181,000 after acquiring an additional 875,480 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GOOG shares. Oppenheimer boosted their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, UBS Group dropped their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.88.

Alphabet Stock Performance

Shares of GOOG stock opened at $153.36 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The firm has a market capitalization of $1.87 trillion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The firm has a fifty day simple moving average of $167.84 and a two-hundred day simple moving average of $177.58. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,663 shares of company stock worth $20,286,447 over the last three months. 12.99% of the stock is currently owned by insiders.

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.