SVB Wealth LLC Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

SVB Wealth LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 196,676 shares of the information services provider’s stock, valued at approximately $37,455,000. Alphabet makes up 0.7% of SVB Wealth LLC’s portfolio, making the stock its 17th largest holding.

A number of other institutional investors have also made changes to their positions in the stock. Swedbank AB increased its position in Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after buying an additional 51,226 shares during the period. Janney Capital Management LLC grew its holdings in shares of Alphabet by 18.2% during the 3rd quarter. Janney Capital Management LLC now owns 13,456 shares of the information services provider’s stock worth $2,250,000 after purchasing an additional 2,069 shares in the last quarter. Allen Wealth Management LLC grew its holdings in shares of Alphabet by 6.4% during the 3rd quarter. Allen Wealth Management LLC now owns 1,332 shares of the information services provider’s stock worth $223,000 after purchasing an additional 80 shares in the last quarter. GFS Advisors LLC grew its holdings in shares of Alphabet by 10,976.6% during the 3rd quarter. GFS Advisors LLC now owns 35,556 shares of the information services provider’s stock worth $5,945,000 after purchasing an additional 35,235 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Alphabet by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 547,237 shares of the information services provider’s stock worth $90,010,000 after purchasing an additional 54,262 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOG. Oppenheimer lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Activity

In other Alphabet news, 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 transaction of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,316 shares of company stock valued at $25,062,887 in the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Trading Down 2.1 %

Shares of GOOG stock opened at $168.66 on Tuesday. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 20.95, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $191.63 and its 200 day simple moving average is $177.88.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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 predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

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.