Granite Bay Wealth Management LLC Has $6.65 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Granite Bay Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,892 shares of the information services provider’s stock after purchasing an additional 1,624 shares during the quarter. Alphabet makes up about 2.5% of Granite Bay Wealth Management LLC’s holdings, making the stock its 15th biggest position. Granite Bay Wealth Management LLC’s holdings in Alphabet were worth $6,645,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Weiss Asset Management LP bought a new stake in Alphabet during the third quarter worth approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter worth $33,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the period. HWG Holdings LP acquired a new position in Alphabet in the 2nd quarter valued at $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,553 shares of company stock worth $23,817,951 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOG shares. Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. UBS Group increased their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Trading Down 0.6 %

GOOG stock opened at $191.05 on Wednesday. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $184.95 and its 200-day moving average is $174.55. The firm has a market cap of $2.34 trillion, a P/E ratio of 25.34, a P/E/G ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Alphabet Company 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.