Arbor Wealth Advisors LLC Buys 444 Shares of Alphabet Inc. (NASDAQ:GOOG)

Arbor Wealth Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 20.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,624 shares of the information services provider’s stock after acquiring an additional 444 shares during the period. Arbor Wealth Advisors LLC’s holdings in Alphabet were worth $500,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Shira Ridge Wealth Management raised its stake in shares of Alphabet by 1.1% during the 4th quarter. Shira Ridge Wealth Management now owns 15,656 shares of the information services provider’s stock worth $2,982,000 after acquiring an additional 166 shares in the last quarter. Professional Financial Advisors LLC increased its position in shares of Alphabet by 1.4% during the fourth quarter. Professional Financial Advisors LLC now owns 10,052 shares of the information services provider’s stock worth $1,914,000 after purchasing an additional 135 shares in the last quarter. Greenfield Savings Bank lifted its holdings in shares of Alphabet by 1.9% during the 4th quarter. Greenfield Savings Bank now owns 25,468 shares of the information services provider’s stock valued at $4,850,000 after purchasing an additional 467 shares during the last quarter. Cullen Investment Group LTD. grew its stake in Alphabet by 1.2% during the 4th quarter. Cullen Investment Group LTD. now owns 99,699 shares of the information services provider’s stock worth $18,987,000 after buying an additional 1,166 shares during the last quarter. Finally, Dale Q Rice Investment Management Ltd acquired a new position in Alphabet during the 4th quarter valued at about $1,308,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 130,553 shares of company stock worth $23,817,951 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of several recent analyst reports. Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group lifted their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Oppenheimer raised their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Down 0.6 %

Shares of NASDAQ:GOOG opened at $191.05 on Wednesday. The company has a market capitalization of $2.34 trillion, a PE ratio of 25.34, a PEG ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $202.88. The business has a 50 day moving average of $184.95 and a two-hundred day moving average of $174.55. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. As a group, analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.