WealthTrak Capital Management LLC Buys New Holdings in Alphabet Inc. (NASDAQ:GOOG)

WealthTrak Capital Management LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 200 shares of the information services provider’s stock, valued at approximately $38,000.

A number of other large investors also recently modified their holdings of the company. GPS Wealth Strategies Group LLC raised its stake in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after buying an additional 1,041 shares in the last quarter. North Forty Two & Co. purchased a new position in shares of Alphabet in the 4th quarter valued at about $281,000. Coldstream Capital Management Inc. raised its position in shares of Alphabet by 14.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after acquiring an additional 14,738 shares in the last quarter. Requisite Capital Management LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $927,000. Finally, Stevens Capital Management LP boosted its holdings in Alphabet by 172.9% in the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock valued at $15,254,000 after purchasing an additional 57,810 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 4.9 %

NASDAQ GOOG opened at $156.06 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.90 trillion, a P/E ratio of 19.39, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $148.20 and a 52-week high of $208.70. The firm has a 50-day moving average price of $181.53 and a 200 day moving average price of $178.31.

Alphabet (NASDAQ:GOOG) last issued its 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 return on equity of 32.49% and a net margin of 28.60%. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is currently 9.94%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank lifted their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Benchmark restated a “negative” rating on shares of Alphabet in a research note 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.56.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,812 shares of company stock valued at $19,336,979 in the last ninety days. 12.99% of the stock is currently owned by company 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.