Inlight Wealth Management LLC Makes New $267,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

Inlight Wealth Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,401 shares of the information services provider’s stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sterling Financial Planning Inc. lifted its stake in Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after buying an additional 50 shares during the last quarter. Arlington Trust Co LLC increased its holdings in shares of Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after acquiring an additional 52 shares during the period. Harrell Investment Partners LLC lifted its position in Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 53 shares during the last quarter. Ethos Financial Group LLC boosted its stake in Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after purchasing an additional 53 shares during the period. Finally, Redhawk Wealth Advisors Inc. grew its position in Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after purchasing an additional 54 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $155.37 on Friday. The stock’s fifty day simple moving average is $171.46 and its 200 day simple moving average is $177.92. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.34 and a beta of 1.04. 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 Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 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 dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Oppenheimer boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank boosted their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.33.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. This represents a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,797 shares of company stock worth $21,089,470. 12.99% of the stock is owned by corporate insiders.

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.