Coordinated Financial Services Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOGL)

Coordinated Financial Services Inc. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,918 shares of the information services provider’s stock, valued at approximately $552,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schear Investment Advisers LLC lifted its holdings in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after acquiring an additional 4,905 shares during the period. Permanent Capital Management LP purchased a new stake in Alphabet in the fourth quarter valued at approximately $273,000. Landscape Capital Management L.L.C. increased its position in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after purchasing an additional 5,516 shares during the last quarter. Glass Wealth Management Co LLC raised its stake in Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after purchasing an additional 1,580 shares during the period. Finally, Olistico Wealth LLC boosted its holdings in shares of Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after purchasing an additional 746 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.7 %

Shares of Alphabet stock opened at $163.99 on Friday. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a twelve month low of $147.22 and a twelve month high of $207.05. 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 50 day simple moving average is $182.57 and its 200-day simple moving average is $176.38.

Alphabet (NASDAQ:GOOGL) last announced 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%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on GOOGL shares. Citigroup dropped their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. Morgan Stanley cut their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a report on Thursday, February 6th. Finally, Roth Mkm restated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.59.

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.