Foguth Wealth Management LLC. Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Foguth Wealth Management LLC. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 42.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,139 shares of the information services provider’s stock after buying an additional 633 shares during the quarter. Foguth Wealth Management LLC.’s holdings in Alphabet were worth $428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Econ Financial Services Corp purchased a new position in shares of Alphabet in the fourth quarter worth $1,167,000. Vestia Personal Wealth Advisors raised its stake in shares of Alphabet by 74.4% in the fourth quarter. Vestia Personal Wealth Advisors now owns 3,096 shares of the information services provider’s stock worth $586,000 after purchasing an additional 1,321 shares during the last quarter. Tectonic Advisors LLC raised its stake in shares of Alphabet by 8.0% in the fourth quarter. Tectonic Advisors LLC now owns 8,660 shares of the information services provider’s stock worth $1,639,000 after purchasing an additional 641 shares during the last quarter. Money Concepts Capital Corp raised its stake in shares of Alphabet by 3.4% in the fourth quarter. Money Concepts Capital Corp now owns 8,498 shares of the information services provider’s stock worth $1,609,000 after purchasing an additional 281 shares during the last quarter. Finally, Confluence Wealth Services Inc. raised its stake in shares of Alphabet by 2.7% in the fourth quarter. Confluence Wealth Services Inc. now owns 28,409 shares of the information services provider’s stock worth $5,624,000 after purchasing an additional 750 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $185.23 on Friday. The stock has a 50 day moving average of $192.64 and a 200 day moving average of $175.03. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05. The firm has a market cap of $2.27 trillion, a PE ratio of 23.01, a PEG ratio of 1.39 and a beta of 0.99. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 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 8.91 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler decreased their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Cantor Fitzgerald reduced their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company upped their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.62.

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.