Puff Wealth Management LLC Purchases New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Puff Wealth Management LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,204 shares of the information services provider’s stock, valued at approximately $607,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bennett Selby Investments LP grew its stake in Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after purchasing an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. raised its position in Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after buying an additional 53 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after acquiring an additional 53 shares during the last quarter. Denver PWM LLC raised its holdings in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Finally, Ignite Planners LLC grew its holdings in Alphabet by 0.4% during the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 2.6 %

Alphabet stock opened at $168.27 on Friday. The firm has a market capitalization of $2.05 trillion, a P/E ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 0.99. The stock’s fifty day simple moving average is $191.00 and its 200-day simple moving average is $176.06. Alphabet Inc. has a twelve month low of $130.66 and a twelve 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 announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Wells Fargo & Company raised their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Insider Transactions at Alphabet

In related news, 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 sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,188 shares of company stock valued at $25,036,883. 11.55% of the stock is currently owned by corporate insiders.

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.