White Knight Strategic Wealth Advisors LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

White Knight Strategic Wealth Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 98.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,004 shares of the information services provider's stock after buying an additional 13,422 shares during the period. Alphabet accounts for approximately 2.2% of White Knight Strategic Wealth Advisors LLC's portfolio, making the stock its 11th largest holding. White Knight Strategic Wealth Advisors LLC's holdings in Alphabet were worth $5,143,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the 4th quarter valued at $27,000. LSV Asset Management purchased a new stake in Alphabet during the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet in the 4th quarter worth about $43,000. Institutional investors own 27.26% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOOG. Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Wedbush reissued an "outperform" rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday, January 30th. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Benchmark reissued a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $203.94.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the sale, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at $413,555,306.40. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 129,744 shares of company stock worth $20,968,366. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.1%

NASDAQ GOOG traded up $1.92 during trading on Thursday, hitting $171.98. The company had a trading volume of 44,924,476 shares, compared to its average volume of 20,042,982. The company's fifty day moving average is $160.23 and its 200-day moving average is $176.62. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.09 trillion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.49%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

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.