Flagship Wealth Advisors LLC Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Flagship Wealth Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,764 shares of the information services provider’s stock, valued at approximately $526,000.

A number of other institutional investors have also made changes to their positions in the stock. Weiss Asset Management LP bought a new position in Alphabet in the 3rd quarter worth approximately $25,000. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth approximately $27,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the 3rd quarter worth approximately $33,000. Noble Wealth Management PBC bought a new position in Alphabet in the 4th quarter worth approximately $43,000. Finally, FPC Investment Advisory Inc. increased 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 worth $46,000 after buying an additional 167 shares during the period. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Price Performance

Alphabet stock opened at $167.62 on Monday. 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 has a market cap of $2.04 trillion, a P/E ratio of 20.82, a P/E/G ratio of 1.34 and a beta of 1.03. The business’s fifty day moving average is $187.41 and its two-hundred day moving average is $178.10. Alphabet Inc. has a 52 week low of $141.13 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 over the last 90 days. 12.99% of the stock is 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.