Bay Capital Advisors LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Bay Capital Advisors LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 2,625 shares of the information services provider’s stock, valued at approximately $500,000.

Other institutional investors have also modified their holdings of the company. Potentia Wealth purchased a new position in Alphabet during the fourth quarter worth about $986,000. PKS Advisory Services LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $1,261,000. Syverson Strege & Co purchased a new stake in shares of Alphabet during the 4th quarter valued at approximately $208,000. WorthPointe LLC lifted its holdings in Alphabet by 8.7% in the fourth quarter. WorthPointe LLC now owns 2,053 shares of the information services provider’s stock valued at $391,000 after acquiring an additional 165 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its position in Alphabet by 34.2% in the fourth quarter. Zions Bancorporation N.A. now owns 11,811 shares of the information services provider’s stock worth $2,249,000 after acquiring an additional 3,008 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $169.93 on Tuesday. The business has a 50-day simple moving average of $183.93 and a 200-day simple moving average of $178.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a one year low of $148.20 and a one year high of $208.70. The company has a market cap of $2.07 trillion, a PE ratio of 21.11, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Transactions 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 shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly 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 is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,048 shares of company stock valued at $17,374,274. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a report on Wednesday, March 19th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Benchmark reissued a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price 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.