Canvas Wealth Advisors LLC Acquires 421 Shares of Alphabet Inc. (NASDAQ:GOOG)

Canvas Wealth Advisors LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,303 shares of the information services provider’s stock after purchasing an additional 421 shares during the period. Canvas Wealth Advisors LLC’s holdings in Alphabet were worth $1,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. M&G PLC bought a new position in shares of Alphabet in the 3rd quarter valued at $2,240,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after acquiring an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Alphabet by 14.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after acquiring an additional 14,738 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Alphabet by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Finally, Requisite Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter valued at $927,000. 27.26% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % 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, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. The trade was a 1.08 % 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 in the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GOOG shares. JPMorgan Chase & Co. increased their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Barclays increased their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Performance

Shares of Alphabet stock opened at $187.88 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $193.89 and a two-hundred day moving average price of $176.47. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70. The company has a market cap of $2.30 trillion, a P/E ratio of 23.34, a PEG ratio of 1.39 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Alphabet Company 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.