CCG Wealth Management LLC Buys 1,956 Shares of Alphabet Inc. $GOOG

CCG Wealth Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 12.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,410 shares of the information services provider’s stock after purchasing an additional 1,956 shares during the quarter. Alphabet comprises 2.3% of CCG Wealth Management LLC’s portfolio, making the stock its 9th largest position. CCG Wealth Management LLC’s holdings in Alphabet were worth $5,463,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after buying an additional 6,410 shares during the last quarter. Worldquant Millennium Advisors LLC boosted its holdings in Alphabet by 76.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock valued at $330,886,000 after acquiring an additional 806,681 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Alphabet in the second quarter valued at $658,000. Financial Advisors Network Inc. grew its position in Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock valued at $1,409,000 after acquiring an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. grew its position in Alphabet by 10.7% during the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after acquiring an additional 3,616 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOG shares. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their target price on Alphabet from $385.00 to $395.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Needham & Company LLC set a $400.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, March 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $370.00 price target on shares of Alphabet in a report on Tuesday, January 20th. Finally, Scotiabank reaffirmed an “outperform” rating and set a $400.00 price target (up from $375.00) on shares of Alphabet in a research report on Thursday, February 5th. Nine analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $345.71.

Read Our Latest Stock Analysis on GOOG

Alphabet Trading Up 3.5%

GOOG opened at $330.43 on Wednesday. Alphabet Inc. has a 52-week low of $148.40 and a 52-week high of $350.15. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $4.00 trillion, a P/E ratio of 30.57, a P/E/G ratio of 1.97 and a beta of 1.13. The firm’s 50 day moving average is $305.60 and its 200-day moving average is $300.37.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The company had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. During the same period in the prior year, the company posted $2.15 EPS. Alphabet’s quarterly revenue was up 18.0% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is presently 7.77%.

Trending Headlines about Alphabet

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Insider Activity

In other news, CAO Amie Thuener O’toole sold 955 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at approximately $2,955,564. This trade represents a 8.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $303.92, for a total value of $9,877,400.00. Following the completion of the sale, the chief executive officer directly owned 2,818,524 shares in the company, valued at approximately $856,605,814.08. This trade represents a 1.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,068,744 shares of company stock valued at $104,505,914 over the last three months. 12.99% of the stock is currently owned by company insiders.

About Alphabet

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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