196,676 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by SVB Wealth LLC

SVB Wealth LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, Holdings Channel reports. The firm purchased 196,676 shares of the information services provider’s stock, valued at approximately $37,455,000. Alphabet accounts for approximately 0.7% of SVB Wealth LLC’s investment portfolio, making the stock its 17th largest holding.

Other large investors have also added to or reduced their stakes in the company. Sterling Financial Planning Inc. grew its holdings in Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 50 shares during the period. Arlington Trust Co LLC lifted its position in Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after buying an additional 52 shares in the last quarter. Harrell Investment Partners LLC lifted its position in Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after buying an additional 53 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its position in Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after buying an additional 54 shares in the last quarter. Finally, Tempus Wealth Planning LLC lifted its position in Alphabet by 1.7% during the fourth quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock valued at $636,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Scotiabank boosted their target price on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

GOOG stock opened at $168.66 on Tuesday. The company has a market capitalization of $2.06 trillion, a P/E ratio of 20.95, a PEG ratio of 1.34 and a beta of 1.00. The company has a 50-day simple moving average of $191.63 and a 200 day simple moving average of $177.88. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the 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 owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,316 shares of company stock valued at $25,062,887. 12.99% of the stock is currently owned by corporate 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.