Spectrum Wealth Advisory Group LLC Acquires New Shares in Alphabet Inc. (NASDAQ:GOOG)

Spectrum Wealth Advisory Group LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,350 shares of the information services provider’s stock, valued at approximately $1,019,000. Alphabet accounts for about 0.5% of Spectrum Wealth Advisory Group LLC’s investment portfolio, making the stock its 23rd biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Arlington Trust Co LLC raised its position in shares of Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after purchasing an additional 52 shares during the period. Harrell Investment Partners LLC raised its position in shares of Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after purchasing an additional 53 shares during the period. Redhawk Wealth Advisors Inc. raised its position in Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after buying an additional 54 shares during the period. Tempus Wealth Planning LLC raised its position in Alphabet by 1.7% during the fourth quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock valued at $636,000 after buying an additional 55 shares during the period. Finally, Investment Advisory Group LLC raised 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 buying an additional 56 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GOOG shares. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank upped their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, UBS Group upped their price target on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report 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 assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 98,919 shares of company stock valued at $18,528,318. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ:GOOG opened at $187.13 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $194.35 and its 200-day moving average is $177.01. The firm has a market cap of $2.28 trillion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70.

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

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.