Concurrent Investment Advisors LLC Buys 245 Shares of Alphabet Inc. (NASDAQ:GOOG)

Concurrent Investment Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 107,013 shares of the information services provider’s stock after purchasing an additional 245 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Alphabet were worth $20,380,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Advyzon Investment Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $1,073,000. Handelsbanken Fonder AB boosted its holdings in Alphabet by 10.4% in the fourth quarter. Handelsbanken Fonder AB now owns 2,902,642 shares of the information services provider’s stock valued at $552,779,000 after acquiring an additional 274,466 shares in the last quarter. Wealth Alliance increased its position in Alphabet by 3.6% during the 4th quarter. Wealth Alliance now owns 19,253 shares of the information services provider’s stock valued at $3,666,000 after purchasing an additional 661 shares during the period. Sunpointe LLC raised its holdings in Alphabet by 8.8% in the 4th quarter. Sunpointe LLC now owns 8,445 shares of the information services provider’s stock worth $1,608,000 after purchasing an additional 681 shares in the last quarter. Finally, LMG Wealth Partners LLC lifted its position in shares of Alphabet by 0.5% in the 4th quarter. LMG Wealth Partners LLC now owns 14,185 shares of the information services provider’s stock worth $2,701,000 after purchasing an additional 64 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Down 2.7 %

NASDAQ:GOOG opened at $181.58 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $208.70. The company has a market cap of $2.21 trillion, a PE ratio of 22.56, a P/E/G ratio of 1.34 and a beta of 1.00. The company’s 50 day moving average is $194.02 and its two-hundred day moving average is $177.45.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOG. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Citigroup boosted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Buying and Selling at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at $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. Over the last ninety days, insiders sold 134,299 shares of company stock valued at $25,055,751. 12.99% of the stock is owned by company insiders.

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.