Alphabet Inc. (NASDAQ:GOOG) Holdings Lifted by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 105,498 shares of the information services provider’s stock after acquiring an additional 759 shares during the quarter. Alphabet makes up about 4.7% of Chemistry Wealth Management LLC’s investment portfolio, making the stock its 4th biggest position. Chemistry Wealth Management LLC’s holdings in Alphabet were worth $20,091,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Beck Bode LLC raised its holdings in shares of Alphabet by 7.1% in the 2nd quarter. Beck Bode LLC now owns 67,523 shares of the information services provider’s stock worth $12,385,000 after buying an additional 4,456 shares in the last quarter. Bridges Investment Management Inc. raised its holdings in shares of Alphabet by 56.1% in the 2nd quarter. Bridges Investment Management Inc. now owns 438,366 shares of the information services provider’s stock worth $80,405,000 after buying an additional 157,453 shares in the last quarter. Waters Parkerson & CO. LLC raised its holdings in shares of Alphabet by 2.5% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 23,516 shares of the information services provider’s stock worth $4,313,000 after buying an additional 582 shares in the last quarter. Simplify Asset Management Inc. acquired a new position in shares of Alphabet in the 2nd quarter worth approximately $233,000. Finally, Elite Wealth Management Inc. raised its holdings in shares of Alphabet by 33.1% in the 2nd quarter. Elite Wealth Management Inc. now owns 46,609 shares of the information services provider’s stock worth $8,549,000 after buying an additional 11,602 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays raised their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer raised their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Trading Up 1.6 %

Shares of GOOG stock opened at $197.55 on Friday. The stock has a 50 day simple moving average of $185.92 and a 200 day simple moving average of $174.93. The stock has a market cap of $2.42 trillion, a P/E 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 1 year low of $131.55 and a 1 year high of $202.88.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. Alphabet’s payout ratio is 10.61%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 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.

Alphabet 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.