Bright Futures Wealth Management LLC. Has $2.23 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Bright Futures Wealth Management LLC. decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 40.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,287 shares of the information services provider’s stock after selling 7,655 shares during the quarter. Alphabet makes up approximately 2.0% of Bright Futures Wealth Management LLC.’s portfolio, making the stock its 14th largest holding. Bright Futures Wealth Management LLC.’s holdings in Alphabet were worth $2,226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of GOOG. M&G PLC bought a new position in Alphabet during the third quarter worth $2,240,000. GPS Wealth Strategies Group LLC boosted its stake in Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock worth $3,094,000 after buying an additional 1,041 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after buying an additional 14,738 shares in the last quarter. Metis Global Partners LLC boosted its stake in Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after buying an additional 4,292 shares in the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in Alphabet during the fourth quarter worth $927,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Barclays boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

Shares of GOOG stock opened at $186.87 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The stock has a market cap of $2.29 trillion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 1.39 and a beta of 1.00. The stock has a 50-day moving average of $194.37 and a 200-day moving average of $176.71. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is presently 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.