Root Financial Partners LLC Purchases 5,298 Shares of Alphabet Inc. (NASDAQ:GOOG)

Root Financial Partners LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 111.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,044 shares of the information services provider’s stock after buying an additional 5,298 shares during the quarter. Root Financial Partners LLC’s holdings in Alphabet were worth $1,913,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Weiss Asset Management LP purchased a new position in Alphabet in the 3rd quarter valued at approximately $25,000. Fiduciary Advisors Inc. purchased a new position in Alphabet in the 4th quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. grew its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC grew its stake in Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after buying an additional 84 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 0.5 %

Shares of GOOG opened at $186.87 on Tuesday. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The company has a 50-day moving average of $194.37 and a 200 day moving average of $176.71. The firm has a market capitalization of $2.29 trillion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GOOG shares. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Scotiabank upped their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Wedbush reiterated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Pivotal Research upped their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the business’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 completion of the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock valued at $16,600,078 in the last ninety days. Insiders own 12.99% of the company’s stock.

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.