Angeles Wealth Management LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOG)

Angeles Wealth Management LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 15.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,800 shares of the information services provider’s stock after buying an additional 5,201 shares during the quarter. Alphabet accounts for 0.6% of Angeles Wealth Management LLC’s portfolio, making the stock its 23rd biggest holding. Angeles Wealth Management LLC’s holdings in Alphabet were worth $7,580,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Exchange Traded Concepts LLC lifted its stake in shares of Alphabet by 42.8% in the third quarter. Exchange Traded Concepts LLC now owns 6,511 shares of the information services provider’s stock valued at $1,089,000 after purchasing an additional 1,953 shares during the period. Creative Planning increased its holdings in Alphabet by 6.4% in the third quarter. Creative Planning now owns 1,544,297 shares of the information services provider’s stock valued at $256,177,000 after buying an additional 92,556 shares in the last quarter. Swedbank AB boosted its stake in shares of Alphabet by 0.6% during the 3rd quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock worth $1,394,181,000 after acquiring an additional 51,226 shares in the last quarter. Hutchens & Kramer Investment Management Group LLC grew its holdings in shares of Alphabet by 1.7% in the 3rd quarter. Hutchens & Kramer Investment Management Group LLC now owns 4,725 shares of the information services provider’s stock worth $796,000 after acquiring an additional 77 shares during the period. Finally, Prospect Financial Services LLC increased its stake in Alphabet by 2.3% in the 3rd quarter. Prospect Financial Services LLC now owns 37,750 shares of the information services provider’s stock valued at $6,311,000 after purchasing an additional 859 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

GOOG opened at $185.43 on Thursday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $208.70. The company’s 50 day simple moving average is $193.70 and its 200 day simple moving average is $176.40. The stock has a market capitalization of $2.27 trillion, a PE ratio of 23.03, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates 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 expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. 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 report on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock 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.