13,551 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by Pines Wealth Management LLC

Pines Wealth Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 13,551 shares of the information services provider’s stock, valued at approximately $2,602,000. Alphabet accounts for about 1.1% of Pines Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at about $32,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter valued at about $41,000. Quarry LP acquired a new position in shares of Alphabet in the 2nd quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Alphabet during the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC boosted its position in shares of Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 3.1 %

Shares of Alphabet stock opened at $195.55 on Thursday. The stock has a market capitalization of $2.39 trillion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The stock has a 50 day moving average price of $183.45 and a two-hundred day moving average price of $173.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the firm posted $1.55 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOGL. Royal Bank of Canada upped their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Friday, January 10th. Roth Mkm boosted their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.15.

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.