Golden Road Advisors LLC Buys New Stake in Alphabet Inc. (NASDAQ:GOOG)

Golden Road Advisors LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,186 shares of the information services provider’s stock, valued at approximately $308,000. Alphabet comprises 0.3% of Golden Road Advisors LLC’s investment portfolio, making the stock its 25th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. MONECO Advisors LLC grew its position in Alphabet by 10.4% in the 4th quarter. MONECO Advisors LLC now owns 14,242 shares of the information services provider’s stock worth $2,007,000 after purchasing an additional 1,337 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Alphabet in the 4th quarter worth $2,603,000. Spartan Planning & Wealth Management grew its position in Alphabet by 74.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 7,920 shares of the information services provider’s stock worth $1,116,000 after purchasing an additional 3,387 shares during the last quarter. Cove Private Wealth LLC acquired a new stake in Alphabet in the 4th quarter worth $2,709,000. Finally, Wahed Invest LLC grew its position in Alphabet by 6.7% in the 4th quarter. Wahed Invest LLC now owns 85,493 shares of the information services provider’s stock worth $12,049,000 after purchasing an additional 5,343 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the transaction, the insider now directly owns 48,717 shares of the company’s stock, valued at $7,365,523.23. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The disclosure for this sale can be found here. Insiders sold 158,458 shares of company stock valued at $25,731,103 in the last ninety days. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Price Performance

Shares of Alphabet stock opened at $178.78 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm’s 50-day simple moving average is $170.11 and its 200-day simple moving average is $152.83. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $182.08. The firm has a market cap of $2.21 trillion, a P/E ratio of 27.42, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the firm posted $1.17 EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

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.