Alteri Wealth LLC Buys New Shares in Alphabet Inc. (NASDAQ:GOOG)

Alteri Wealth LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 14,971 shares of the information services provider's stock, valued at approximately $2,851,000. Alphabet comprises 0.8% of Alteri Wealth LLC's investment portfolio, making the stock its 17th biggest position.

Other institutional investors also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC raised its holdings in shares of Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. Harvest Investment Services LLC raised its holdings in Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after buying an additional 138 shares during the period. North Forty Two & Co. acquired a new position in Alphabet during the fourth quarter valued at approximately $281,000. SageView Advisory Group LLC grew its stake in Alphabet by 140.6% during the fourth quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider's stock worth $2,806,000 after buying an additional 8,610 shares during the period. Finally, Requisite Capital Management LLC acquired a new stake in shares of Alphabet in the fourth quarter worth $927,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Wedbush restated an "outperform" rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, KeyCorp reduced their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $203.94.

Alphabet Trading Up 1.9 %

Shares of NASDAQ GOOG opened at $165.81 on Friday. The stock has a market capitalization of $2.01 trillion, a P/E ratio of 20.60, a PEG ratio of 1.34 and a beta of 1.01. The stock's 50 day moving average price is $162.25 and its two-hundred day moving average price is $177.09. 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 Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.89 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,685,196 shares in the company, valued at $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 148,164 shares of company stock valued at $25,357,390. Company insiders own 12.99% of the company's stock.

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.

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