Providence Wealth Advisors LLC Has $1.99 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Providence Wealth Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,102 shares of the information services provider’s stock after buying an additional 60 shares during the quarter. Alphabet makes up approximately 1.5% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 19th largest position. Providence Wealth Advisors LLC’s holdings in Alphabet were worth $1,992,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GOOG. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $27,000. Weiss Asset Management LP acquired a new position in Alphabet in the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet during the 3rd quarter worth $33,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet in the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock opened at $167.14 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a 50-day moving average of $182.96 and a 200-day moving average of $178.36. Alphabet Inc. has a one year low of $148.20 and a one year high of $208.70. The company has a market cap of $2.04 trillion, a P/E ratio of 20.76, a P/E/G ratio of 1.34 and a beta of 1.03.

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

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock worth $17,374,274 over the last three months. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of analyst reports. Scotiabank boosted their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Wedbush reissued an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

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.