Family Investment Center Inc. Acquires Shares of 2,626 Alphabet Inc. $GOOG

Family Investment Center Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGFree Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,626 shares of the information services provider’s stock, valued at approximately $824,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Brighton Jones LLC raised its holdings in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC raised its holdings in Alphabet by 76.2% in the 2nd 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 in the last quarter. Darwin Wealth Management LLC acquired a new position in Alphabet in the 2nd quarter valued at $658,000. Financial Advisors Network Inc. raised its holdings in Alphabet by 7.7% in the 2nd 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 in the last quarter. Finally, Ausdal Financial Partners Inc. raised its holdings in Alphabet by 10.7% in the 2nd 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 in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Needham & Company LLC set a $400.00 price objective on Alphabet and gave the company a “buy” rating in a report on Friday, March 13th. Oppenheimer reiterated an “outperform” rating and issued a $360.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Piper Sandler reiterated an “overweight” rating and issued a $395.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a research note on Wednesday, January 21st. Finally, DZ Bank upgraded Alphabet to a “strong-buy” rating in a research note on Monday, February 16th. Eight investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $346.03.

Check Out Our Latest Research Report on GOOG

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $303.41, for a total transaction of $318,580.50. Following the sale, the director owned 4,631 shares in the company, valued at $1,405,091.71. The trade was a 18.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $302.99, for a total value of $33,934.88. Following the sale, the director owned 18,418 shares in the company, valued at $5,580,469.82. This represents a 0.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 2,068,744 shares of company stock worth $104,505,914 over the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 2.0%

Shares of GOOG opened at $339.40 on Friday. Alphabet Inc. has a 52-week low of $148.40 and a 52-week high of $350.15. The business’s fifty day moving average is $305.98 and its 200-day moving average is $301.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market cap of $4.11 trillion, a price-to-earnings ratio of 31.40, a PEG ratio of 2.05 and a beta of 1.13.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.59 by $0.23. The company had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.15 EPS. Equities analysts anticipate 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. Investors of record on Monday, March 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.2%. Alphabet’s payout ratio is currently 7.77%.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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