Waterfront Wealth Inc. Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

Waterfront Wealth Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,044 shares of the information services provider’s stock after purchasing an additional 671 shares during the quarter. Alphabet makes up about 1.4% of Waterfront Wealth Inc.’s holdings, making the stock its 15th biggest position. Waterfront Wealth Inc.’s holdings in Alphabet were worth $5,687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. DT Investment Partners LLC lifted its stake in shares of Alphabet by 10.2% during the 3rd quarter. DT Investment Partners LLC now owns 12,374 shares of the information services provider’s stock valued at $2,052,000 after buying an additional 1,149 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV grew its position in Alphabet by 14.5% during the third quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 1,308 shares of the information services provider’s stock worth $217,000 after buying an additional 166 shares in the last quarter. Eagle Ridge Investment Management increased its position in shares of Alphabet by 0.3% in the third quarter. Eagle Ridge Investment Management now owns 218,302 shares of the information services provider’s stock worth $36,205,000 after purchasing an additional 662 shares during the last quarter. Tectonic Advisors LLC increased its holdings in shares of Alphabet by 0.9% in the 3rd quarter. Tectonic Advisors LLC now owns 8,019 shares of the information services provider’s stock worth $1,330,000 after buying an additional 69 shares during the last quarter. Finally, Legacy Capital Group California Inc. raised its position in Alphabet by 29.4% during the third quarter. Legacy Capital Group California Inc. now owns 13,578 shares of the information services provider’s stock valued at $2,252,000 after purchasing an additional 3,088 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

GOOGL opened at $173.02 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $189.06 and its 200-day simple moving average is $176.38. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 12-month low of $130.85 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its 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%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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 $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 currently 9.94%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents 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 1,374 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,316 shares of company stock valued at $25,062,887 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. KeyCorp upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Finally, Stifel Nicolaus raised their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Ten equities research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.62.

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.