Canvas Wealth Advisors LLC Buys 306 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Canvas Wealth Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,165 shares of the information services provider’s stock after purchasing an additional 306 shares during the period. Alphabet makes up 4.2% of Canvas Wealth Advisors LLC’s investment portfolio, making the stock its 5th biggest holding. Canvas Wealth Advisors LLC’s holdings in Alphabet were worth $16,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. RAM Investment Partners LLC raised its holdings in shares of Alphabet by 7.6% during the fourth quarter. RAM Investment Partners LLC now owns 8,514 shares of the information services provider’s stock valued at $1,612,000 after purchasing an additional 605 shares during the period. Angeles Wealth Management LLC raised its holdings in shares of Alphabet by 10.8% during the fourth quarter. Angeles Wealth Management LLC now owns 31,893 shares of the information services provider’s stock valued at $6,037,000 after purchasing an additional 3,098 shares during the period. Liberty Capital Management Inc. raised its holdings in shares of Alphabet by 1.0% during the fourth quarter. Liberty Capital Management Inc. now owns 61,761 shares of the information services provider’s stock valued at $11,691,000 after purchasing an additional 595 shares during the period. OMC Financial Services LTD increased its position in shares of Alphabet by 7.5% during the fourth quarter. OMC Financial Services LTD now owns 32,423 shares of the information services provider’s stock worth $6,137,000 after acquiring an additional 2,266 shares in the last quarter. Finally, Activest Wealth Management increased its position in shares of Alphabet by 3.2% during the fourth quarter. Activest Wealth Management now owns 44,599 shares of the information services provider’s stock worth $8,443,000 after acquiring an additional 1,376 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 98,919 shares of company stock valued at $18,528,318. Insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $185.19 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $207.05. The firm’s fifty day moving average is $192.81 and its 200 day moving average is $175.49. The firm has a market cap of $2.26 trillion, a P/E ratio of 23.01, a P/E/G ratio of 1.35 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last released its 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%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GOOGL shares. Pivotal Research boosted 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. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Evercore ISI boosted their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Ten equities 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, the company has a consensus rating of “Moderate Buy” and an average price target of $210.62.

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.