Angeles Wealth Management LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Angeles Wealth Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 15.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,800 shares of the information services provider’s stock after purchasing an additional 5,201 shares during the quarter. Alphabet accounts for approximately 0.6% of Angeles Wealth Management LLC’s portfolio, making the stock its 23rd largest position. Angeles Wealth Management LLC’s holdings in Alphabet were worth $7,580,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. acquired a new position in Alphabet during the 4th quarter worth about $27,000. Weiss Asset Management LP acquired a new stake in shares of Alphabet during the third quarter worth about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet in the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. grew 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 valued at $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Compass Financial Services Inc purchased a new stake in Alphabet during the 4th quarter worth approximately $65,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of several recent research reports. Barclays raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $185.43 on Thursday. The stock has a market cap of $2.27 trillion, a P/E ratio of 23.03, a P/E/G ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. The stock has a 50 day moving average of $193.70 and a two-hundred day moving average of $176.40. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock valued at $16,600,078 over the last quarter. 12.99% of the stock is currently owned by insiders.

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.