Founders Capital Management Has $2.17 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Founders Capital Management lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 11,391 shares of the information services provider’s stock after purchasing an additional 115 shares during the quarter. Alphabet comprises approximately 1.4% of Founders Capital Management’s holdings, making the stock its 22nd biggest position. Founders Capital Management’s holdings in Alphabet were worth $2,169,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Weiss Asset Management LP acquired a new position in Alphabet in the 3rd quarter worth about $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet in the 3rd quarter valued at approximately $33,000. Abich Financial Wealth Management LLC raised its stake in shares of Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. HWG Holdings LP bought a new stake in shares of Alphabet in the second quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. increased 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 valued at $42,000 after purchasing an additional 117 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Down 1.1 %

Shares of GOOG traded down $2.22 during mid-day trading on Monday, reaching $190.95. The company had a trading volume of 6,553,389 shares, compared to its average volume of 15,473,697. The firm has a 50-day moving average price of $184.12 and a 200 day moving average price of $174.45. The company has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $202.88. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s payout ratio is 10.61%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. UBS Group increased their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,387 shares of company stock worth $27,748,931 in the last three months. 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.