Net Worth Advisory Group Purchases 4,101 Shares of Alphabet Inc. $GOOG

Net Worth Advisory Group increased its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 39.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,560 shares of the information services provider’s stock after purchasing an additional 4,101 shares during the period. Alphabet comprises about 0.9% of Net Worth Advisory Group’s investment portfolio, making the stock its 18th largest position. Net Worth Advisory Group’s holdings in Alphabet were worth $4,569,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Imprint Wealth LLC acquired a new position in shares of Alphabet in the 3rd quarter valued at $31,000. Manning & Napier Advisors LLC acquired a new position in Alphabet in the third quarter worth about $32,000. Tripletail Wealth Management LLC bought a new position in Alphabet during the third quarter worth about $40,000. Retirement Wealth Solutions LLC grew its stake in shares of Alphabet by 145.0% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 196 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 116 shares during the period. Finally, Bay Harbor Wealth Management LLC grew its stake in shares of Alphabet by 56.8% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 218 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 79 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Performance

GOOG stock opened at $273.14 on Tuesday. The company has a 50 day moving average price of $311.78 and a 200 day moving average price of $296.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $350.15. 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 stock has a market capitalization of $3.30 trillion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.60 and a beta of 1.10.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. The firm had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company earned $2.15 EPS. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 955 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at approximately $2,955,564. This represents a 8.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $303.92, for a total transaction of $9,877,400.00. Following the completion of the transaction, the chief executive officer directly owned 2,818,524 shares in the company, valued at $856,605,814.08. This trade represents a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,092,336 shares of company stock valued at $112,519,943 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $365.00 price target (up from $355.00) on shares of Alphabet in a research note on Thursday, February 5th. Citigroup restated a “market outperform” rating on shares of Alphabet in a research report on Wednesday, December 17th. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Royal Bank Of Canada restated an “outperform” rating and set a $375.00 price target on shares of Alphabet in a research report on Thursday, January 15th. Finally, Canaccord Genuity Group raised their target price on Alphabet from $330.00 to $390.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Nine investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $345.71.

Get Our Latest Stock Report on Alphabet

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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