Magnus Financial Group LLC Buys 247 Shares of Alphabet Inc. (NASDAQ:GOOG)

Magnus Financial Group LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,406 shares of the information services provider’s stock after purchasing an additional 247 shares during the quarter. Magnus Financial Group LLC’s holdings in Alphabet were worth $2,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Alphabet during the fourth quarter worth about $11,600,970,000. FMR LLC raised its stake in Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after acquiring an additional 4,348,188 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after acquiring an additional 2,583,128 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Alphabet by 93.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after purchasing an additional 2,222,950 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GOOG shares. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Raymond James upped their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $165.67.

Alphabet Price Performance

Shares of GOOG opened at $167.90 on Tuesday. The company has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.59 and a beta of 1.05. Alphabet Inc. has a 1 year low of $104.50 and a 1 year high of $176.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The business has a 50-day moving average of $149.64 and a 200-day moving average of $142.97.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the previous year, the company earned $1.17 EPS. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 6.8 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,209 shares of company stock valued at $36,711,144. 12.99% of the stock is owned by company insiders.

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.