Tower Wealth Partners Inc. Purchases 369 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Tower Wealth Partners Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 29.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,607 shares of the information services provider’s stock after acquiring an additional 369 shares during the period. Tower Wealth Partners Inc.’s holdings in Alphabet were worth $304,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Gallagher Capital Advisors LLC bought a new stake in Alphabet in the fourth quarter valued at $2,802,000. Daiwa Securities Group Inc. boosted its holdings in Alphabet by 14.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,460,722 shares of the information services provider’s stock valued at $465,815,000 after acquiring an additional 306,625 shares in the last quarter. Moran Wealth Management LLC boosted its holdings in Alphabet by 1.0% in the fourth quarter. Moran Wealth Management LLC now owns 92,907 shares of the information services provider’s stock valued at $17,587,000 after acquiring an additional 897 shares in the last quarter. Main Street Research LLC boosted its holdings in Alphabet by 2.7% in the fourth quarter. Main Street Research LLC now owns 281,038 shares of the information services provider’s stock valued at $53,200,000 after acquiring an additional 7,259 shares in the last quarter. Finally, New Insight Wealth Advisors boosted its holdings in shares of Alphabet by 2.2% during the 4th quarter. New Insight Wealth Advisors now owns 17,720 shares of the information services provider’s stock valued at $3,354,000 after buying an additional 384 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock valued at $17,374,274 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.7 %

Alphabet stock opened at $163.99 on Friday. The firm has a 50 day moving average of $182.57 and a 200 day moving average of $176.51. The firm has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12-month low of $147.22 and a 12-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.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research report on Wednesday, February 5th. Roth Mkm reaffirmed a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research report on Wednesday. Morgan Stanley reduced their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Ten 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’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.59.

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.