NRI Wealth Management LC Buys Shares of 13,857 Alphabet Inc. (NASDAQ:GOOG)

NRI Wealth Management LC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,857 shares of the information services provider’s stock, valued at approximately $2,639,000. Alphabet makes up about 1.8% of NRI Wealth Management LC’s investment portfolio, making the stock its 13th biggest holding.

Several other institutional investors have also made changes to their positions in the stock. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the 3rd quarter worth about $25,000. Abich Financial Wealth Management LLC increased its holdings in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after buying an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new position in Alphabet during the third quarter valued at approximately $33,000. HWG Holdings LP bought a new position in Alphabet during the second quarter valued at approximately $40,000. Finally, Slocum Gordon & Co LLP acquired a new stake in Alphabet in the second quarter valued at approximately $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ:GOOG opened at $190.63 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a one year low of $131.55 and a one year high of $202.88. The company has a fifty day moving average price of $180.72 and a 200 day moving average price of $173.79. The stock has a market cap of $2.33 trillion, a P/E ratio of 25.28, a PEG ratio of 1.38 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter in the prior year, the business earned $1.55 earnings per share. The firm’s revenue for the quarter 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 year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is presently 10.61%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Jefferies Financial Group upped their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the transaction, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. This trade represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,519 shares of company stock worth $27,734,316. Company insiders own 12.99% of the company’s stock.

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.