Onyx Bridge Wealth Group LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

Onyx Bridge Wealth Group LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,519 shares of the information services provider’s stock after buying an additional 161 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Alphabet were worth $4,479,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOG. Weiss Asset Management LP bought a new stake in Alphabet during the third quarter worth about $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at about $27,000. Safe Harbor Fiduciary LLC bought a new stake in Alphabet in the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. boosted its stake in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC grew its position in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 3.2 %

Shares of NASDAQ:GOOG opened at $187.14 on Monday. 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 Inc. has a 52-week low of $131.55 and a 52-week high of $208.70. The firm has a market capitalization of $2.29 trillion, a P/E ratio of 23.25, a P/E/G ratio of 1.39 and a beta of 1.00. The stock has a 50 day moving average price of $193.12 and a 200-day moving average price of $176.13.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate 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 research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In other news, 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 completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,529 shares of company stock valued at $16,600,078. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Scotiabank increased their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Finally, Oppenheimer lifted their price target on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Six equities research 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, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $209.13.

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.