Cranbrook Wealth Management LLC Buys 145 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cranbrook Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 27.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 670 shares of the information services provider’s stock after purchasing an additional 145 shares during the period. Cranbrook Wealth Management LLC’s holdings in Alphabet were worth $128,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. grew its stake in shares of Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares during the last quarter. Sunburst Financial Group LLC grew its position in Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 60 shares during the last quarter. Johnson Financial Group LLC increased its stake in Alphabet by 2.6% during the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 60 shares in the last quarter. Fortitude Family Office LLC raised its holdings in Alphabet by 0.7% in the fourth quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock worth $1,585,000 after buying an additional 60 shares during the last quarter. Finally, Phillips Financial Management LLC lifted its stake 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 worth $644,000 after buying an additional 61 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

NASDAQ GOOG opened at $197.55 on Friday. The business’s fifty day moving average is $185.92 and its 200 day moving average is $174.93. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two 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. The company has a market capitalization of $2.42 trillion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

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

Insider Activity

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 in the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GOOG. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” 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 company a “buy” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $200.56.

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.