NewSquare Capital LLC Has $720,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

NewSquare Capital LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3,050.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,780 shares of the information services provider’s stock after acquiring an additional 3,660 shares during the period. NewSquare Capital LLC’s holdings in Alphabet were worth $720,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $27,000. Weiss Asset Management LP acquired a new position in Alphabet during the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the 3rd quarter valued at $33,000. Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the 4th quarter valued at $43,000. Finally, FPC Investment Advisory Inc. raised its position in shares of Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after acquiring an additional 167 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the topic of several recent research reports. Oppenheimer raised their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Scotiabank lifted their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Price Performance

Shares of GOOG opened at $174.21 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 $190.22 and a 200 day simple moving average of $177.89. Alphabet Inc. has a 52-week low of $132.66 and a 52-week high of $208.70. The firm has a market capitalization of $2.12 trillion, a PE ratio of 21.64, a P/E/G ratio of 1.34 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 134,316 shares of company stock worth $25,062,887. 12.99% of the stock is owned by company insiders.

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.