Market Street Wealth Management Advisors LLC Purchases Shares of 1,113 Alphabet Inc. (NASDAQ:GOOG)

Market Street Wealth Management Advisors LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,113 shares of the information services provider’s stock, valued at approximately $212,000.

Other large investors have also modified their holdings of the company. Weiss Asset Management LP acquired a new position in shares of Alphabet in the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the 3rd quarter worth about $33,000. HWG Holdings LP purchased a new stake in Alphabet during the second quarter valued at about $40,000. Sanctuary Wealth Management L.L.C. boosted its holdings in shares of 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 buying an additional 117 shares during the period. Finally, Iron Horse Wealth Management LLC increased its position in shares of 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 acquiring an additional 84 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their target price on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup increased their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Alphabet Stock Up 1.2 %

GOOG stock opened at $201.90 on Friday. The firm has a market cap of $2.47 trillion, a PE ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The company has a fifty day simple moving average of $187.95 and a 200 day simple moving average of $175.31. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Company 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.