Foguth Wealth Management LLC. Invests $1.48 Million in Alphabet Inc. $GOOGL

Foguth Wealth Management LLC. purchased a new stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,686 shares of the information services provider’s stock, valued at approximately $1,477,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC increased its position in Alphabet by 8.1% during the 4th quarter. GAMMA Investing LLC now owns 141,646 shares of the information services provider’s stock worth $44,335,000 after purchasing an additional 10,563 shares in the last quarter. Boltwood Capital Management boosted its position in Alphabet by 1.2% in the fourth quarter. Boltwood Capital Management now owns 26,303 shares of the information services provider’s stock valued at $8,233,000 after buying an additional 307 shares in the last quarter. Global Wealth Strategies & Associates boosted its position in Alphabet by 15.4% in the fourth quarter. Global Wealth Strategies & Associates now owns 2,826 shares of the information services provider’s stock valued at $885,000 after buying an additional 377 shares in the last quarter. RIA Advisory Group LLC grew its stake in shares of Alphabet by 29.1% during the third quarter. RIA Advisory Group LLC now owns 2,455 shares of the information services provider’s stock worth $597,000 after buying an additional 554 shares during the last quarter. Finally, Finivi Inc. grew its stake in shares of Alphabet by 1.2% during the third quarter. Finivi Inc. now owns 3,276 shares of the information services provider’s stock worth $796,000 after buying an additional 39 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on GOOGL. Canaccord Genuity Group set a $415.00 price target on Alphabet in a research note on Thursday, February 5th. Tigress Financial set a $415.00 price objective on Alphabet and gave the stock a “strong-buy” rating in a research report on Thursday, February 19th. Deutsche Bank Aktiengesellschaft upped their target price on Alphabet from $370.00 to $390.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Loop Capital increased their target price on Alphabet from $320.00 to $355.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. Finally, Raymond James Financial raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Three analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $367.18.

Check Out Our Latest Stock Analysis on GOOGL

Alphabet Price Performance

Shares of GOOGL opened at $301.00 on Friday. The business has a 50-day moving average of $317.62 and a 200-day moving average of $292.57. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market capitalization of $3.64 trillion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.80 and a beta of 1.10. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $349.00.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.57 by $0.25. The business had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were given a $0.21 dividend. The ex-dividend date was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet’s payout ratio is 7.77%.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

Insider Buying and Selling

In related news, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $302.99, for a total value of $33,934.88. Following the transaction, the director owned 18,418 shares in the company, valued at $5,580,469.82. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 955 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the sale, the chief accounting officer directly owned 9,918 shares in the company, valued at $2,955,564. This trade represents a 8.78% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,110,165 shares of company stock worth $118,134,117. Corporate insiders own 11.64% of the company’s stock.

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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