Conway Capital Management Inc. Has $7.22 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Conway Capital Management Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 37,915 shares of the information services provider’s stock after purchasing an additional 350 shares during the quarter. Alphabet makes up about 3.2% of Conway Capital Management Inc.’s portfolio, making the stock its 8th largest holding. Conway Capital Management Inc.’s holdings in Alphabet were worth $7,221,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Redhawk Wealth Advisors Inc. grew its position in shares of Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after acquiring an additional 54 shares during the period. Investment Advisory Group LLC lifted its position in Alphabet by 0.7% during the fourth quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock valued at $1,463,000 after purchasing an additional 56 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in Alphabet by 2.1% during the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 60 shares during the period. Johnson Financial Group LLC increased its position in Alphabet by 2.6% in the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after buying an additional 60 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its position in shares of Alphabet by 0.7% during the 4th quarter. Fortitude Family Office LLC now owns 8,323 shares of the information services provider’s stock valued at $1,585,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

GOOG stock opened at $201.90 on Friday. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a fifty day simple moving average of $187.95 and a two-hundred day simple moving average of $175.31. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the business posted $1.55 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOG. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group increased their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the sale, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. 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. 12.99% of the stock is owned by 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.