Greenwich Wealth Management LLC Buys 1,167 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Greenwich Wealth Management LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.3% during the fourth quarter, Holdings Channel reports. The firm owned 8,334 shares of the information services provider’s stock after purchasing an additional 1,167 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Alphabet were worth $1,578,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bennett Selby Investments LP increased its holdings in shares of Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after purchasing an additional 52 shares during the last quarter. Macroview Investment Management LLC grew its holdings in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after buying an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its holdings in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after acquiring an additional 53 shares during the last quarter. Finally, Addison Advisors LLC boosted its position in shares of Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 1.7 %

Shares of GOOGL opened at $162.24 on Friday. The company has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The stock’s 50-day moving average price is $180.49 and its 200-day moving average price is $176.68. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Bank of America reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. DA Davidson increased their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,812 shares of company stock worth $19,336,979. Company insiders own 11.55% of the company’s stock.

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.