Magnolia Private Wealth LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Magnolia Private Wealth LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,279 shares of the information services provider’s stock, valued at approximately $624,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Sterling Financial Planning Inc. increased its stake in Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after purchasing an additional 50 shares during the period. Arlington Trust Co LLC increased its stake in shares of Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after buying an additional 52 shares during the period. Harrell Investment Partners LLC increased its stake in shares of Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after buying an additional 53 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in shares of Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after buying an additional 54 shares during the period. Finally, Tempus Wealth Planning LLC increased its stake in shares of Alphabet by 1.7% during the fourth quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock worth $636,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 134,309 shares of company stock worth $25,057,490 in the last three months. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $172.22 on Friday. The company has a market capitalization of $2.10 trillion, a P/E ratio of 21.39, a PEG ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. The business has a 50 day simple moving average of $192.17 and a 200-day simple moving average of $177.73. 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 (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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 analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analyst Ratings Changes

A number of research firms recently weighed in on GOOG. Scotiabank upped their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

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.