Strategic Family Wealth Counselors L.L.C. Grows Stake in Alphabet Inc. $GOOG

Strategic Family Wealth Counselors L.L.C. raised its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 299.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,752 shares of the information services provider’s stock after acquiring an additional 8,057 shares during the period. Strategic Family Wealth Counselors L.L.C.’s holdings in Alphabet were worth $3,464,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Imprint Wealth LLC purchased a new stake in shares of Alphabet during the third quarter valued at $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at $38,000. Towne Trust Company N.A boosted its position in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares during the last quarter. Winnow Wealth LLC purchased a new stake in shares of Alphabet during the third quarter valued at $63,000. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of Alphabet by 29.0% during the third quarter. CBIZ Investment Advisory Services LLC now owns 258 shares of the information services provider’s stock valued at $63,000 after buying an additional 58 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $303.41, for a total value of $318,580.50. Following the transaction, the director owned 4,631 shares of the company’s stock, valued at approximately $1,405,091.71. This represents a 18.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The SEC filing for this sale provides additional information. Insiders have sold 226,481 shares of company stock valued at $27,422,061 in the last 90 days. Insiders own 12.99% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Stock Down 1.1%

GOOG stock opened at $379.38 on Friday. Alphabet Inc. has a fifty-two week low of $163.33 and a fifty-two week high of $404.47. The business’s 50-day moving average is $335.54 and its two-hundred day moving average is $320.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The company has a market cap of $4.60 trillion, a price-to-earnings ratio of 28.94, a P/E/G ratio of 1.64 and a beta of 1.25.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.96 billion. During the same quarter in the prior year, the company earned $2.81 earnings per share. Alphabet’s revenue was up 21.8% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 14.29 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 8th will be issued a $0.22 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Monday, June 8th. Alphabet’s dividend payout ratio is currently 6.41%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. UBS Group reaffirmed a “neutral” rating and set a $348.00 price objective (up from $345.00) on shares of Alphabet in a research report on Thursday, February 12th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $425.00 price objective on shares of Alphabet in a research report on Thursday, April 30th. Oppenheimer increased their price objective on Alphabet from $425.00 to $445.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Wells Fargo & Company raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 23rd. Finally, Needham & Company LLC set a $400.00 price objective on Alphabet and gave the company a “buy” rating in a research report on Friday, March 13th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $372.65.

Get Our Latest Stock Report on Alphabet

About Alphabet

(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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