Family Investment Center Inc. Acquires New Shares in Alphabet Inc. (NASDAQ:GOOG)

Family Investment Center Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,279 shares of the information services provider’s stock, valued at approximately $434,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in Alphabet by 8.4% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 7,583 shares of the information services provider’s stock valued at $1,268,000 after acquiring an additional 586 shares in the last quarter. West Financial Advisors LLC raised its stake in Alphabet by 20.2% during the 3rd quarter. West Financial Advisors LLC now owns 2,403 shares of the information services provider’s stock valued at $402,000 after buying an additional 403 shares during the last quarter. CWM LLC raised its stake in Alphabet by 0.9% during the 3rd quarter. CWM LLC now owns 313,837 shares of the information services provider’s stock valued at $52,470,000 after buying an additional 2,831 shares during the last quarter. Marcum Wealth LLC raised its stake in Alphabet by 2.4% during the 3rd quarter. Marcum Wealth LLC now owns 18,156 shares of the information services provider’s stock valued at $3,035,000 after buying an additional 430 shares during the last quarter. Finally, Wedmont Private Capital raised its stake in Alphabet by 2.3% during the 3rd quarter. Wedmont Private Capital now owns 83,762 shares of the information services provider’s stock valued at $13,770,000 after buying an additional 1,909 shares during the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 over the last three months. 12.99% of the stock is owned by insiders.

Alphabet Trading Up 0.0 %

GOOG stock opened at $193.31 on Friday. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.37 trillion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.32 and a beta of 1.00. The business has a 50 day simple moving average of $192.33 and a two-hundred day simple moving average of $176.03.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

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 $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price objective on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target 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.