Grant Private Wealth Management Inc Invests $1.74 Million in Alphabet Inc. (NASDAQ:GOOG)

Grant Private Wealth Management Inc purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, HoldingsChannel reports. The fund purchased 9,137 shares of the information services provider’s stock, valued at approximately $1,740,000. Alphabet accounts for about 1.9% of Grant Private Wealth Management Inc’s holdings, making the stock its 15th biggest position.

A number of other hedge funds also recently bought and sold shares of the company. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $27,000. Weiss Asset Management LP purchased a new position in Alphabet in the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet during the 3rd quarter valued at $33,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the 4th quarter worth $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the fourth quarter worth $39,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.0 %

Shares of GOOG opened at $158.86 on Thursday. The stock has a fifty day moving average of $179.06 and a two-hundred day moving average of $178.56. 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 Inc. has a fifty-two week low of $148.20 and a fifty-two week high of $208.70. The company has a market capitalization of $1.94 trillion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOG. Westpark Capital initiated coverage on Alphabet in a report on Tuesday. They issued a “buy” rating and a $210.00 price objective for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Benchmark reiterated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $208.65.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. The trade was a 19.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,297 shares of company stock worth $15,936,270 in the last ninety days. 12.99% of the stock is currently owned by corporate 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.