1,113 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Market Street Wealth Management Advisors LLC

Market Street Wealth Management Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,113 shares of the information services provider’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ninepoint Partners LP lifted its holdings in Alphabet by 7.4% in the 2nd quarter. Ninepoint Partners LP now owns 7,423 shares of the information services provider’s stock worth $1,362,000 after buying an additional 514 shares in the last quarter. Texas Capital Bancshares Inc TX acquired a new position in shares of Alphabet in the second quarter worth about $306,000. Kathmere Capital Management LLC boosted its holdings in Alphabet by 19.4% in the second quarter. Kathmere Capital Management LLC now owns 18,531 shares of the information services provider’s stock valued at $3,399,000 after purchasing an additional 3,010 shares during the last quarter. Empirical Capital Management LLC grew its stake in Alphabet by 244.8% during the 2nd quarter. Empirical Capital Management LLC now owns 100,000 shares of the information services provider’s stock valued at $18,342,000 after purchasing an additional 71,000 shares in the last quarter. Finally, Rockport Wealth LLC increased its holdings in Alphabet by 134.0% during the 2nd quarter. Rockport Wealth LLC now owns 4,365 shares of the information services provider’s stock worth $801,000 after purchasing an additional 2,500 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares in the company, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock worth $24,368,654 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $201.90 on Friday. The company has a 50-day moving average price of $187.95 and a two-hundred day moving average price of $175.31. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the firm earned $1.55 EPS. The firm’s revenue was up 15.1% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is currently 10.61%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group increased their target price on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.13.

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.