Arrien Investments Inc. Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Arrien Investments Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,588 shares of the information services provider’s stock, valued at approximately $322,000. Alphabet comprises 0.2% of Arrien Investments Inc.’s holdings, making the stock its 29th largest position.

Several other institutional investors and hedge funds have also modified their holdings of GOOG. Cassady Schiller Wealth Management LLC lifted its position in Alphabet by 14.7% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 1,835 shares of the information services provider’s stock worth $349,000 after buying an additional 235 shares during the period. Signaturefd LLC increased its stake in shares of Alphabet by 22.9% during the 4th quarter. Signaturefd LLC now owns 72,267 shares of the information services provider’s stock valued at $13,763,000 after acquiring an additional 13,481 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Alphabet by 9.8% during the 4th quarter. Parallel Advisors LLC now owns 322,015 shares of the information services provider’s stock worth $61,325,000 after acquiring an additional 28,646 shares during the period. SouthState Corp boosted its position in shares of Alphabet by 6.3% in the fourth quarter. SouthState Corp now owns 139,575 shares of the information services provider’s stock worth $26,581,000 after acquiring an additional 8,214 shares during the last quarter. Finally, Addison Capital Co grew its holdings in Alphabet by 3.3% in the fourth quarter. Addison Capital Co now owns 3,206 shares of the information services provider’s stock valued at $611,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.8 %

NASDAQ:GOOG opened at $167.62 on Monday. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a one year low of $141.13 and a one year high of $208.70. 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 business’s 50-day simple moving average is $187.41 and its 200 day simple moving average is $178.10.

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 return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % 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 John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now directly owns 21,824 shares in the company, valued at approximately $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 93,048 shares of company stock valued at $17,374,274 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Scotiabank increased their target price 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. One equities research analyst has rated the stock with a sell rating, six have given 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, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

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.