Hudson Valley Investment Advisors Inc. ADV Has $21.62 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Hudson Valley Investment Advisors Inc. ADV increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 113,545 shares of the information services provider’s stock after purchasing an additional 418 shares during the period. Alphabet comprises about 2.4% of Hudson Valley Investment Advisors Inc. ADV’s investment portfolio, making the stock its 9th largest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in Alphabet were worth $21,624,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Sunburst Financial Group LLC lifted its position in shares of Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after buying an additional 60 shares in the last quarter. Johnson Financial Group LLC increased its stake in Alphabet by 2.6% in the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after acquiring an additional 60 shares during the last quarter. Phillips Financial Management LLC raised its holdings in shares of Alphabet by 1.6% during the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock worth $644,000 after acquiring an additional 61 shares in the last quarter. Goodman Advisory Group LLC boosted its position in shares of Alphabet by 2.3% during the 3rd quarter. Goodman Advisory Group LLC now owns 2,674 shares of the information services provider’s stock valued at $447,000 after acquiring an additional 61 shares during the last quarter. Finally, Hutchinson Capital Management CA grew its holdings in shares of Alphabet by 1.9% in the second quarter. Hutchinson Capital Management CA now owns 3,492 shares of the information services provider’s stock valued at $641,000 after purchasing an additional 64 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on GOOG. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Citigroup increased their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group upped their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays increased their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $195.39 on Friday. The firm has a 50 day moving average of $183.71 and a 200 day moving average of $174.52. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $202.88.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,406,343.27. The trade was a 9.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,887 shares of company stock worth $27,996,356. Insiders own 12.99% of the company’s stock.

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.