Rovin Capital UT ADV Grows Stake in Alphabet Inc. (NASDAQ:GOOG)

Rovin Capital UT ADV lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,908 shares of the information services provider’s stock after purchasing an additional 551 shares during the period. Rovin Capital UT ADV’s holdings in Alphabet were worth $554,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Weiss Asset Management LP purchased a new stake in Alphabet during the third quarter valued at about $25,000. Abich Financial Wealth Management LLC raised its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the 3rd quarter valued at approximately $33,000. HWG Holdings LP bought a new position in Alphabet in the 2nd quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. grew its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group increased their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup raised their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Check Out Our Latest Research Report on GOOG

Alphabet Price Performance

Shares of Alphabet stock opened at $197.55 on Friday. The firm has a market capitalization of $2.42 trillion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99. 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 Inc. has a 12 month low of $131.55 and a 12 month high of $202.88. The business’s 50-day moving average price is $185.56 and its 200-day moving average price is $174.84.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $1.55 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 over the last three months. Company insiders own 12.99% of the company’s stock.

About Alphabet

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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