HBW Advisory Services LLC Purchases 136 Shares of Alphabet Inc. (NASDAQ:GOOG)

by · The Markets Daily

HBW Advisory Services LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 16,244 shares of the information services provider’s stock after purchasing an additional 136 shares during the quarter. HBW Advisory Services LLC’s holdings in Alphabet were worth $3,094,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GOOG. Prudential PLC grew its stake in Alphabet by 15.7% in the 2nd quarter. Prudential PLC now owns 527,604 shares of the information services provider’s stock worth $96,773,000 after acquiring an additional 71,452 shares in the last quarter. Financial Futures Ltd Liability Co. grew its stake in Alphabet by 5.6% in the 2nd quarter. Financial Futures Ltd Liability Co. now owns 7,488 shares of the information services provider’s stock worth $1,373,000 after acquiring an additional 400 shares in the last quarter. Clifford Swan Investment Counsel LLC grew its stake in Alphabet by 0.3% in the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 161,049 shares of the information services provider’s stock worth $29,540,000 after acquiring an additional 480 shares in the last quarter. Roof Eidam Maycock Peralta LLC grew its stake in Alphabet by 0.4% in the 2nd quarter. Roof Eidam Maycock Peralta LLC now owns 26,572 shares of the information services provider’s stock worth $4,874,000 after acquiring an additional 116 shares in the last quarter. Finally, Choreo LLC grew its stake in Alphabet by 139.8% in the 2nd quarter. Choreo LLC now owns 202,905 shares of the information services provider’s stock worth $37,425,000 after acquiring an additional 118,278 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GOOG shares. Jefferies Financial Group upped their price target on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank started coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $200.56.

Read Our Latest Research Report on Alphabet

Alphabet Stock Performance

GOOG stock traded down $0.86 during midday trading on Friday, hitting $194.53. 10,253,391 shares of the stock traded hands, compared to its average volume of 15,209,042. The firm has a market cap of $2.38 trillion, a P/E ratio of 25.80, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock’s fifty day simple moving average is $183.71 and its 200-day simple moving average is $174.52. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business earned $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,406,343.27. This trade represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock worth $27,996,356 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Alphabet Company Profile

(Free Report)

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.

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