Steward Partners Investment Advisory LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Steward Partners Investment Advisory LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 408,972 shares of the information services provider’s stock after buying an additional 4,432 shares during the period. Alphabet accounts for 0.7% of Steward Partners Investment Advisory LLC’s investment portfolio, making the stock its 22nd largest position. Steward Partners Investment Advisory LLC’s holdings in Alphabet were worth $77,885,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GOOG. Weiss Asset Management LP bought a new stake in Alphabet during the 3rd quarter valued at $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Noble Wealth Management PBC bought a new position in Alphabet in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,316 shares of company stock valued at $25,062,887 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.4 %

Shares of GOOG opened at $174.99 on Thursday. Alphabet Inc. has a fifty-two week low of $131.95 and a fifty-two week high of $208.70. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.34 and a beta of 1.00. The firm has a 50 day moving average price of $190.68 and a 200-day moving average price of $177.91. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.46%. Alphabet’s payout ratio is 9.94%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOG. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.