Wellspring Financial Advisors LLC Buys 435 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wellspring Financial Advisors LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 12,188 shares of the information services provider’s stock after purchasing an additional 435 shares during the period. Wellspring Financial Advisors LLC’s holdings in Alphabet were worth $2,322,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOOG. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at approximately $5,166,070,000. Raymond James Financial Inc. bought a new position in Alphabet in the 4th quarter valued at $1,551,533,000. GQG Partners LLC grew its position in shares of Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Alphabet by 5,712.8% in the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $831,810,000 after purchasing an additional 4,292,689 shares during the period. Finally, FMR LLC raised its position in shares of Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock worth $22,470,344,000 after buying an additional 3,189,592 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 3.2 %

Shares of NASDAQ GOOG opened at $147.74 on Monday. The firm’s fifty day moving average is $177.04 and its 200 day moving average is $178.55. Alphabet Inc. has a 52 week low of $143.70 and a 52 week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GOOG. Wedbush restated an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. Rosenblatt Securities reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. Scotiabank boosted their price target on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $208.65.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,797 shares of company stock worth $21,089,470. 12.99% of the stock is currently owned by insiders.

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.