Hidden Cove Wealth Management LLC Invests $405,000 in Alphabet Inc. (NASDAQ:GOOGL)

Hidden Cove Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,140 shares of the information services provider’s stock, valued at approximately $405,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LMR Partners LLP acquired a new stake in Alphabet in the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the fourth quarter worth approximately $39,000. Denver PWM LLC lifted its position in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the period. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Alphabet in the third quarter worth approximately $66,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,299 shares of company stock worth $25,055,751 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 2.7 %

Alphabet stock opened at $179.66 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The company’s fifty day moving average price is $192.46 and its two-hundred day moving average price is $175.93.

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

Alphabet Dividend Announcement

The company 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GOOGL shares. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Truist Financial increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada increased their price objective on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup cut their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target 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.