Flagship Wealth Advisors LLC Buys Shares of 2,764 Alphabet Inc. (NASDAQ:GOOG)

Flagship Wealth Advisors LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,764 shares of the information services provider’s stock, valued at approximately $526,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new position in shares of Alphabet during the third quarter worth about $25,000. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter worth about $33,000. Noble Wealth Management PBC acquired a new position in shares of Alphabet during the fourth quarter worth about $43,000. Finally, FPC Investment Advisory Inc. boosted its position in Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Alphabet stock opened at $167.62 on Monday. The stock’s fifty day moving average price is $187.41 and its two-hundred day moving average price is $178.10. 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 current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $2.04 trillion, a PE ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted 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, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

About Alphabet

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.