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

Mindset Wealth Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,923 shares of the information services provider’s stock after purchasing an additional 424 shares during the period. Alphabet makes up 0.3% of Mindset Wealth Management LLC’s portfolio, making the stock its 20th biggest holding. Mindset Wealth Management LLC’s holdings in Alphabet were worth $937,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. FMR LLC grew its position in shares of Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after purchasing an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Alphabet by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after purchasing an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after purchasing an additional 3,113,395 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Alphabet by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider’s stock valued at $5,870,181,000 after purchasing an additional 875,480 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock worth $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of GOOG opened at $165.05 on Friday. The stock has a market cap of $2.01 trillion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $148.01 and a fifty-two week high of $208.70. The firm’s 50-day simple moving average is $184.91 and its two-hundred day simple moving average is $177.93.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share 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 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s 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 in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,048 shares of company stock worth $17,374,274. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on GOOG. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

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.