Palacios Wealth Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Palacios Wealth Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,502 shares of the information services provider’s stock, valued at approximately $1,654,000. Alphabet accounts for approximately 1.8% of Palacios Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position.

A number of other large investors have also recently made changes to their positions in the business. FMR LLC increased its stake in shares of Alphabet by 5.2% in the third quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after purchasing an additional 5,655,022 shares in the last quarter. Geode Capital Management LLC grew its stake in Alphabet by 0.3% during the third 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 acquiring an additional 259,213 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Alphabet by 10.3% during the third 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 acquiring an additional 3,113,395 shares in the last quarter. Jennison Associates LLC grew its stake in Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GOOG. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Wedbush restated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,529 shares of company stock valued at $16,600,078. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

GOOG opened at $186.87 on Tuesday. The business’s 50-day moving average is $194.37 and its two-hundred day moving average is $176.71. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The firm has a market capitalization of $2.29 trillion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results 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 return on equity of 32.49% and a net margin of 28.60%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. 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%.

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.