Citrine Capital LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

Citrine Capital LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,183 shares of the information services provider’s stock, valued at approximately $606,000. Alphabet makes up 0.4% of Citrine Capital LLC’s holdings, making the stock its 24th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Weiss Asset Management LP purchased a new position in shares of Alphabet during the third quarter valued at about $25,000. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at about $27,000. Safe Harbor Fiduciary LLC purchased a new stake in Alphabet in the third quarter worth about $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC grew its holdings in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOG. Wedbush restated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Barclays upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group upped their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the transaction, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock worth $16,600,078 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Up 0.6 %

Shares of GOOG stock opened at $188.20 on Tuesday. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $193.12 and its 200 day moving average is $176.14. The stock has a market capitalization of $2.30 trillion, a P/E ratio of 23.38, a P/E/G ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

About Alphabet

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.