Scissortail Wealth Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Scissortail Wealth Management LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 53,418.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,887 shares of the information services provider's stock after purchasing an additional 5,876 shares during the quarter. Scissortail Wealth Management LLC's holdings in Alphabet were worth $1,121,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Norges Bank bought a new position in Alphabet in the 4th quarter worth about $5,166,070,000. Raymond James Financial Inc. bought a new stake in Alphabet during the 4th quarter valued at about $1,551,533,000. Northern Trust Corp raised its holdings in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. GQG Partners LLC grew its holdings in shares of Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. Finally, Capital International Investors increased its position in shares of Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after acquiring an additional 5,758,244 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on 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 transaction, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock valued at $30,153,353 over the last three months. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $167.43 on Friday. 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 stock has a 50-day simple moving average of $160.19 and a two-hundred day simple moving average of $176.74. The firm has a market capitalization of $2.03 trillion, a PE ratio of 20.80, a P/E/G ratio of 1.34 and a beta of 1.01. 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 announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 EPS. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. UBS Group lowered their target price on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Wedbush reaffirmed an "outperform" rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Finally, Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $203.94.

Alphabet Company 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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