Activest Wealth Management Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Activest Wealth Management increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,599 shares of the information services provider’s stock after acquiring an additional 1,376 shares during the quarter. Alphabet makes up about 2.4% of Activest Wealth Management’s investment portfolio, making the stock its 11th largest position. Activest Wealth Management’s holdings in Alphabet were worth $8,443,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Stone Summit Wealth LLC raised its holdings in Alphabet by 18.0% in the fourth quarter. Stone Summit Wealth LLC now owns 3,806 shares of the information services provider’s stock worth $720,000 after purchasing an additional 580 shares in the last quarter. Martin Capital Advisors LLP increased its holdings in shares of Alphabet by 1.3% during the fourth quarter. Martin Capital Advisors LLP now owns 15,477 shares of the information services provider’s stock valued at $2,930,000 after acquiring an additional 200 shares in the last quarter. Tevis Investment Management increased its holdings in shares of Alphabet by 2.3% during the fourth quarter. Tevis Investment Management now owns 15,372 shares of the information services provider’s stock valued at $2,910,000 after acquiring an additional 343 shares in the last quarter. Focused Wealth Management Inc increased its holdings in shares of Alphabet by 0.7% during the fourth quarter. Focused Wealth Management Inc now owns 34,121 shares of the information services provider’s stock valued at $6,459,000 after acquiring an additional 234 shares in the last quarter. Finally, Legacy Financial Strategies LLC increased its holdings in shares of Alphabet by 4.0% during the fourth quarter. Legacy Financial Strategies LLC now owns 6,307 shares of the information services provider’s stock valued at $1,195,000 after acquiring an additional 244 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $185.19 on Thursday. The business has a 50-day moving average of $192.81 and a 200 day moving average of $175.49. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05. The stock has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.35 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GOOGL shares. Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Wells Fargo & Company upped their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Morgan Stanley dropped their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. 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’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,919 shares of company stock valued at $18,528,318. Company insiders own 11.55% of the company’s stock.

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.