Noble Wealth Management PBC Makes New Investment in Alphabet Inc. (NASDAQ:GOOGL)

Noble Wealth Management PBC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,127 shares of the information services provider’s stock, valued at approximately $781,000.

Several other hedge funds have also recently bought and sold shares of the stock. US Bancorp DE lifted its position in Alphabet by 0.6% during the fourth quarter. US Bancorp DE now owns 6,124,384 shares of the information services provider’s stock worth $1,159,348,000 after acquiring an additional 36,289 shares during the last quarter. Fisher Asset Management LLC lifted its position in Alphabet by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock worth $9,581,427,000 after acquiring an additional 757,138 shares during the last quarter. Maripau Wealth Management LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $812,000. Wiser Advisor Group LLC increased its holdings in shares of Alphabet by 5.4% during the fourth quarter. Wiser Advisor Group LLC now owns 12,662 shares of the information services provider’s stock worth $2,397,000 after purchasing an additional 645 shares during the period. Finally, Sage Investment Counsel LLC bought a new position in shares of Alphabet during the fourth quarter worth approximately $222,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,882 shares of company stock valued at $17,934,130 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $165.49 on Friday. The company’s fifty day simple moving average is $185.70 and its 200 day simple moving average is $176.38. Alphabet Inc. has a 12-month low of $140.03 and a 12-month high of $207.05. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 20.56, a PEG ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current 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 earnings per share 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, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOGL. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Cantor Fitzgerald lowered their target price on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Wedbush lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, KeyCorp lifted their price objective 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. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet 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.