Wealth Management Partners LLC Grows Stake in Alphabet Inc. (NASDAQ:GOOG)

Wealth Management Partners LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,946 shares of the information services provider’s stock after acquiring an additional 115 shares during the period. Alphabet comprises about 1.6% of Wealth Management Partners LLC’s investment portfolio, making the stock its 15th biggest holding. Wealth Management Partners LLC’s holdings in Alphabet were worth $3,608,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. grew its position in Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares in the last quarter. Sunburst Financial Group LLC lifted its stake in shares of Alphabet by 2.1% in the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 60 shares during the last quarter. Johnson Financial Group LLC boosted its holdings in shares of 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 purchasing an additional 60 shares during the period. Fortitude Family Office LLC increased its position in shares of Alphabet by 0.7% during the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after purchasing an additional 60 shares during the last quarter. Finally, Phillips Financial Management LLC raised its holdings in Alphabet by 1.6% during the 3rd quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock valued at $644,000 after buying an additional 61 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Canaccord Genuity Group boosted their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Scotiabank started coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target on the stock. 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Price Performance

Shares of GOOG opened at $199.63 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50 day moving average price of $186.23 and a 200-day moving average price of $174.83. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The stock has a market capitalization of $2.44 trillion, a PE ratio of 26.48, a PEG ratio of 1.25 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the business posted $1.55 EPS. The business’s revenue was up 15.1% compared to the same quarter last year. Equities analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by corporate insiders.

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.