MGB Wealth Management LLC Acquires 683 Shares of Alphabet Inc. (NASDAQ:GOOGL)

MGB Wealth Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,934 shares of the information services provider’s stock after purchasing an additional 683 shares during the period. Alphabet makes up 0.8% of MGB Wealth Management LLC’s portfolio, making the stock its 21st biggest position. MGB Wealth Management LLC’s holdings in Alphabet were worth $2,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Schear Investment Advisers LLC increased its holdings in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares during the period. Landscape Capital Management L.L.C. boosted its stake in shares of Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares in the last quarter. abrdn plc boosted its stake in shares of Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. Olistico Wealth LLC boosted its stake in shares of Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after purchasing an additional 746 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in shares of Alphabet by 22.9% in the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after purchasing an additional 11,481 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,824 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,815,948.32. This represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,299 shares of company stock valued at $25,055,751. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Roth Mkm boosted their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Bank of America reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. Wedbush upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and set a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $179.25 on Tuesday. The stock has a fifty day moving average price of $192.12 and a 200-day moving average price of $176.05. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 22.27, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm 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 0.45%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

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.