Nova R Wealth Inc. Makes New $711,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Nova R Wealth Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 3,754 shares of the information services provider’s stock, valued at approximately $711,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new position in shares of Alphabet during the 3rd quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. raised its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new position in Alphabet during the fourth quarter valued at $39,000. PayPay Securities Corp lifted its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. Finally, Denver PWM LLC grew its position in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In related news, 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 transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,299 shares of company stock worth $25,055,751 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $175.42 on Wednesday. The business’s fifty day moving average price is $191.72 and its 200 day moving average price is $176.14. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The company has a market capitalization of $2.14 trillion, a PE ratio of 21.79, a P/E/G ratio of 1.34 and a beta of 0.99. 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 issued 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, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GOOGL. KeyCorp raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Stifel Nicolaus increased their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. 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 report on Wednesday, October 30th. Ten 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 stock presently has an average rating of “Moderate Buy” and an average price target of $210.62.

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.