Premier Path Wealth Partners LLC Has $6.99 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Premier Path Wealth Partners LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,700 shares of the information services provider’s stock after buying an additional 2,731 shares during the quarter. Alphabet makes up about 1.1% of Premier Path Wealth Partners LLC’s investment portfolio, making the stock its 24th largest holding. Premier Path Wealth Partners LLC’s holdings in Alphabet were worth $6,989,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. M&G PLC acquired a new position in Alphabet during the third quarter valued at approximately $2,240,000. Coldstream Capital Management Inc. raised its stake in Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after purchasing an additional 14,738 shares during the last quarter. Metis Global Partners LLC raised its stake in Alphabet by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after purchasing an additional 4,292 shares during the last quarter. Stevens Capital Management LP boosted its holdings in Alphabet by 172.9% in the 3rd quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after purchasing an additional 57,810 shares during the period. Finally, Verdence Capital Advisors LLC grew its position in Alphabet by 10.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock worth $10,624,000 after purchasing an additional 5,892 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 1.6 %

Shares of GOOG opened at $197.55 on Monday. The firm has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.20, a PEG ratio of 1.21 and a beta of 0.99. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $202.88. 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 business’s fifty day moving average price is $185.92 and its two-hundred day moving average price is $174.85.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping 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 firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same period last year, the company earned $1.55 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.40%. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GOOG. UBS Group lifted their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Citigroup upped their target price on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This represents a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 over the last ninety days. Company insiders own 12.99% of the company’s stock.

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.