Abner Herrman & Brock LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Abner Herrman & Brock LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,358 shares of the information services provider’s stock after purchasing an additional 1,344 shares during the quarter. Alphabet makes up 2.9% of Abner Herrman & Brock LLC’s holdings, making the stock its 11th largest position. Abner Herrman & Brock LLC’s holdings in Alphabet were worth $23,492,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Harrell Investment Partners LLC lifted its holdings in Alphabet by 0.9% in the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after acquiring an additional 53 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its position in Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares during the period. Investment Advisory Group LLC lifted its stake in shares of Alphabet by 0.7% in the 4th quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock valued at $1,463,000 after purchasing an additional 56 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its position in shares of Alphabet by 4.6% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock worth $243,000 after purchasing an additional 56 shares during the last quarter. Finally, Sunburst Financial Group LLC raised its holdings in Alphabet by 2.1% in the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after buying an additional 60 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GOOG shares. Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Finally, Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $209.13.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $193.31 on Friday. The company has a market cap of $2.37 trillion, a P/E ratio of 25.64, a PEG ratio of 1.32 and a beta of 1.00. The firm has a fifty day moving average price of $192.33 and a 200 day moving average price of $176.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $208.70.

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, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Sell-side analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. Alphabet’s payout ratio is currently 9.94%.

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.