Hobbs Group Advisors LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Hobbs Group Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 66.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,904 shares of the information services provider’s stock after purchasing an additional 2,360 shares during the period. Hobbs Group Advisors LLC’s holdings in Alphabet were worth $1,124,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $27,000. Weiss Asset Management LP purchased a new position in shares of Alphabet in the third quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at about $33,000. Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet during the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet during the 4th quarter worth approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 104,812 shares of company stock valued at $19,336,979 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Down 4.9 %

NASDAQ:GOOG opened at $156.06 on Friday. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. The company has a market capitalization of $1.90 trillion, a PE ratio of 19.39, a P/E/G ratio of 1.34 and a beta of 1.03. The firm’s 50-day moving average price is $181.53 and its 200-day moving average price is $178.31. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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%. On average, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GOOG. Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $208.56.

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.