Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Mystic Asset Management Inc.

Mystic Asset Management Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,979 shares of the information services provider’s stock after buying an additional 536 shares during the period. Alphabet accounts for 1.0% of Mystic Asset Management Inc.’s investment portfolio, making the stock its 25th largest holding. Mystic Asset Management Inc.’s holdings in Alphabet were worth $3,805,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of GOOG. Swedbank AB increased its holdings in shares of Alphabet by 0.6% in the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after acquiring an additional 51,226 shares during the period. Principal Financial Group Inc. increased its stake in Alphabet by 2.5% in the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after purchasing an additional 264,962 shares during the period. Aljian Capital Management LLC increased its stake in Alphabet by 5.7% in the third quarter. Aljian Capital Management LLC now owns 90,190 shares of the information services provider’s stock valued at $15,079,000 after purchasing an additional 4,847 shares during the period. Phillips Financial Management LLC raised its holdings in shares of Alphabet by 1.6% in the third quarter. Phillips Financial Management LLC now owns 3,852 shares of the information services provider’s stock valued at $644,000 after buying an additional 61 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Alphabet by 4,715.5% during the third quarter. Quest Partners LLC now owns 8,090 shares of the information services provider’s stock worth $1,353,000 after buying an additional 7,922 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on GOOG. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank upped their price target on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,048 shares of company stock worth $17,374,274. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $166.57 on Tuesday. Alphabet Inc. has a 1-year low of $147.01 and a 1-year high of $208.70. The stock has a market cap of $2.03 trillion, a P/E ratio of 20.69, a P/E/G ratio of 1.34 and a beta of 1.03. The stock’s 50 day simple moving average is $186.78 and its 200 day simple moving average is $178.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its earnings results 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 return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

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.