PineStone Asset Management Inc. Buys Shares of 5,020 Alphabet Inc. (NASDAQ:GOOG)

PineStone Asset Management Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,020 shares of the information services provider’s stock, valued at approximately $956,000.

Other institutional investors also recently modified their holdings of the company. Arlington Trust Co LLC lifted its position in shares of Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after buying an additional 52 shares during the last quarter. Harrell Investment Partners LLC raised its stake 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 acquiring an additional 53 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares during the last quarter. Tempus Wealth Planning LLC boosted its position in Alphabet by 1.7% during the fourth quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock worth $636,000 after purchasing an additional 55 shares during the period. Finally, Investment Advisory Group LLC increased its stake in shares of Alphabet by 0.7% in the fourth quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock worth $1,463,000 after purchasing an additional 56 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,029 shares of company stock valued at $12,625,003 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GOOG. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Trading Down 0.6 %

Shares of GOOG opened at $185.67 on Wednesday. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The firm has a market cap of $2.27 trillion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.39 and a beta of 1.00. The firm has a 50 day moving average price of $194.56 and a 200-day moving average price of $176.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s 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.