Alphabet Inc. (NASDAQ:GOOGL) Stake Lifted by Root Financial Partners LLC

Root Financial Partners LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 120.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,406 shares of the information services provider’s stock after buying an additional 8,972 shares during the period. Alphabet accounts for approximately 0.4% of Root Financial Partners LLC’s investment portfolio, making the stock its 26th largest holding. Root Financial Partners LLC’s holdings in Alphabet were worth $3,106,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new position in Alphabet in the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the fourth quarter worth about $39,000. PayPay Securities Corp boosted its stake in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the period. Finally, Denver PWM LLC grew its holdings in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of 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 filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,299 shares of company stock worth $25,055,751. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 2.1 %

Alphabet stock opened at $175.42 on Wednesday. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05. The business has a fifty day moving average of $191.72 and a two-hundred day moving average of $176.14. The firm has a market cap of $2.14 trillion, a P/E ratio of 21.79, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm 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 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Sanford C. Bernstein upped their price target on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Roth Mkm lifted their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. cut 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $210.62.

About Alphabet

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.