1,994 Shares in Alphabet Inc. (NASDAQ:GOOGL) Bought by Rialto Wealth Management LLC

Rialto Wealth Management LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,994 shares of the information services provider’s stock, valued at approximately $377,000.

Other large investors have also recently added to or reduced their stakes in the company. Hamilton Capital Partners LLC bought a new position in Alphabet during the 4th quarter worth approximately $12,948,000. Lifeworks Advisors LLC raised its position in shares of Alphabet by 5.1% during the 4th quarter. Lifeworks Advisors LLC now owns 7,851 shares of the information services provider’s stock valued at $1,486,000 after acquiring an additional 380 shares in the last quarter. Intellectus Partners LLC lifted its stake in Alphabet by 9.6% during the fourth quarter. Intellectus Partners LLC now owns 25,255 shares of the information services provider’s stock worth $4,781,000 after purchasing an additional 2,206 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Alphabet by 12.6% in the fourth quarter. Larson Financial Group LLC now owns 26,573 shares of the information services provider’s stock worth $5,030,000 after purchasing an additional 2,977 shares during the period. Finally, Blankinship & Foster LLC bought a new stake in Alphabet during the fourth quarter valued at $1,560,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

NASDAQ GOOGL opened at $162.80 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $146.90 and a 1 year high of $207.05. The company has a market cap of $1.98 trillion, a PE ratio of 20.22, a PEG ratio of 1.34 and a beta of 1.02. The stock’s 50-day moving average price is $183.13 and its two-hundred day moving average price is $176.37.

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

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares in the company, valued at $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday. KeyCorp decreased their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Rosenblatt Securities reissued a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a report on Wednesday. Finally, Citigroup lowered their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.59.

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.