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

Heritage Wealth Management Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,850 shares of the information services provider’s stock after buying an additional 450 shares during the period. Heritage Wealth Management Inc.’s holdings in Alphabet were worth $1,865,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Compass Planning Associates Inc bought a new position in Alphabet in the 4th quarter valued at $30,000. LMR Partners LLP purchased a new stake in shares of Alphabet during the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Alphabet by 518.8% during the 4th 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. purchased a new stake in shares of Alphabet during the 4th quarter valued at $39,000. Finally, PayPay Securities Corp raised its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,882 shares of company stock worth $17,934,130. 11.55% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. KeyCorp lifted their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Needham & Company LLC restated a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Bank of America reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Finally, Cantor Fitzgerald cut their target price on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Stock Performance

GOOGL opened at $165.49 on Friday. The firm has a market cap of $2.02 trillion, a P/E ratio of 20.56, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1-year low of $140.03 and a 1-year high of $207.05. The company has a 50 day simple moving average of $185.70 and a two-hundred day simple moving average of $176.38. 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 posted 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 net margin of 28.60% and a return on equity of 32.49%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is 9.94%.

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.