Penn Davis Mcfarland Inc. Has $93.94 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Penn Davis Mcfarland Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 493,252 shares of the information services provider’s stock after buying an additional 837 shares during the quarter. Alphabet comprises about 10.2% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its largest position. Penn Davis Mcfarland Inc.’s holdings in Alphabet were worth $93,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the 3rd quarter valued at approximately $33,000. Abich Financial Wealth Management LLC boosted its position in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. HWG Holdings LP bought a new stake in shares of Alphabet during the second quarter worth $40,000. Finally, Sanctuary Wealth Management L.L.C. increased its holdings in shares of Alphabet by 87.3% during 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 in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG stock opened at $199.63 on Wednesday. The firm has a 50 day moving average of $186.23 and a 200-day moving average of $174.83. The company has a market cap of $2.44 trillion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $1.55 earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Barclays boosted their price target on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 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, Citigroup upped their price target on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.56.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 12.99% of the company’s stock.

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.