Noble Wealth Management PBC Makes New $43,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

Noble Wealth Management PBC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 224 shares of the information services provider’s stock, valued at approximately $43,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter worth about $27,000. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth about $33,000. FPC Investment Advisory Inc. boosted its stake in shares of Alphabet by 287.9% during the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after acquiring an additional 167 shares in the last quarter. Finally, Sanctuary Wealth Management L.L.C. boosted its stake in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after acquiring an additional 117 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,316 shares of company stock worth $25,062,887 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Down 2.1 %

Shares of NASDAQ GOOG opened at $168.66 on Tuesday. The company has a 50 day simple moving average of $191.63 and a 200-day simple moving average of $177.88. The company 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. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Oppenheimer raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

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.