Grace & White Inc. NY Acquires New Stake in Alphabet Inc. (NASDAQ:GOOG)

Grace & White Inc. NY acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,060 shares of the information services provider’s stock, valued at approximately $202,000.

Other large investors also recently bought and sold shares of the company. Warren Street Wealth Advisors LLC raised its position in Alphabet by 0.9% during the 4th quarter. Warren Street Wealth Advisors LLC now owns 16,425 shares of the information services provider’s stock valued at $3,128,000 after purchasing an additional 139 shares in the last quarter. Hidden Cove Wealth Management LLC bought a new stake in Alphabet during the 4th quarter valued at $253,000. Three Bridge Wealth Advisors LLC raised its position in Alphabet by 66.7% during the 4th quarter. Three Bridge Wealth Advisors LLC now owns 2,000 shares of the information services provider’s stock valued at $381,000 after purchasing an additional 800 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Alphabet by 1.0% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 7,660 shares of the information services provider’s stock valued at $1,459,000 after purchasing an additional 77 shares in the last quarter. Finally, Naples Global Advisors LLC raised its position in Alphabet by 0.8% during the 4th quarter. Naples Global Advisors LLC now owns 23,180 shares of the information services provider’s stock valued at $4,414,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now owns 2,061,806 shares in the company, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,529 shares of company stock worth $16,600,078. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 0.5 %

Alphabet stock opened at $186.87 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The business’s 50-day simple moving average is $194.37 and its two-hundred day simple moving average is $176.69. The company has a market cap of $2.29 trillion, a PE ratio of 23.21, a PEG ratio of 1.39 and a beta of 1.00. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s payout ratio is presently 9.94%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Barclays lifted their target price on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Wedbush reissued an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $209.13.

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.