Noble Wealth Management PBC Buys New Stake in Alphabet Inc. (NASDAQ:GOOG)

Noble Wealth Management PBC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 224 shares of the information services provider’s stock, valued at approximately $43,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new position in Alphabet in the 3rd quarter valued at approximately $25,000. Fiduciary Advisors Inc. purchased a new position in Alphabet in the 4th quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet in the 3rd quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. boosted its position in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the period. Finally, FPC Investment Advisory Inc. boosted its position in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 2.1 %

NASDAQ GOOG opened at $168.66 on Tuesday. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s fifty day moving average is $191.63 and its two-hundred day moving average is $177.88. The firm has a market cap of $2.06 trillion, a PE ratio of 20.95, a P/E/G ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared 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 is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,316 shares of company stock worth $25,062,887 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on GOOG shares. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank lifted their price objective 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. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Oppenheimer lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.13.

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.