Crowley Wealth Management Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Crowley Wealth Management Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,381 shares of the information services provider’s stock, valued at approximately $1,406,000. Alphabet makes up 1.2% of Crowley Wealth Management Inc.’s investment portfolio, making the stock its 20th biggest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter valued at about $25,000. Fiduciary Advisors Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter worth approximately $33,000. Noble Wealth Management PBC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. grew its position in shares of Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Oppenheimer boosted their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Cantor Fitzgerald reissued a “neutral” rating on shares of Alphabet in a research note on Wednesday. Finally, Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last 90 days. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Alphabet stock opened at $166.25 on Friday. The company’s 50 day moving average is $184.37 and its two-hundred day moving average is $178.07. The firm has a market cap of $2.03 trillion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $148.20 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG) last released its earnings results 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, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is 9.94%.

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.