Alphabet Inc. $GOOG Holdings Raised by Udine Wealth Management Inc.

Udine Wealth Management Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGFree Report) by 4.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 66,760 shares of the information services provider’s stock after purchasing an additional 3,045 shares during the quarter. Alphabet accounts for approximately 9.9% of Udine Wealth Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Udine Wealth Management Inc.’s holdings in Alphabet were worth $20,896,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Imprint Wealth LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth about $31,000. Manning & Napier Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth about $32,000. Tripletail Wealth Management LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth about $40,000. Retirement Wealth Solutions LLC boosted its stake in shares of Alphabet by 145.0% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 196 shares of the information services provider’s stock worth $48,000 after acquiring an additional 116 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC boosted its stake in shares of Alphabet by 56.8% during the 3rd quarter. Bay Harbor Wealth Management LLC now owns 218 shares of the information services provider’s stock worth $53,000 after acquiring an additional 79 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on GOOG shares. DZ Bank raised shares of Alphabet to a “strong-buy” rating in a research note on Monday, February 16th. BMO Capital Markets reissued an “outperform” rating and set a $400.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Pivotal Research reissued a “buy” rating and set a $420.00 target price (up from $400.00) on shares of Alphabet in a research note on Thursday, February 5th. Needham & Company LLC set a $400.00 target price on shares of Alphabet and gave the stock a “buy” rating in a research note on Friday, March 13th. Finally, Wedbush reissued an “outperform” rating and set a $370.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Nine investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $345.71.

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Alphabet Trading Up 3.6%

Shares of Alphabet stock opened at $314.74 on Thursday. The firm has a market capitalization of $3.81 trillion, a PE ratio of 29.12, a P/E/G ratio of 1.80 and a beta of 1.13. Alphabet Inc. has a twelve month low of $145.81 and a twelve month high of $350.15. The firm’s 50-day moving average price is $307.23 and its 200 day moving average price is $298.03. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11.

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 for the quarter, beating analysts’ consensus estimates of $2.59 by $0.23. The firm had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. Alphabet’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company posted $2.15 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Insider Transactions at Alphabet

In related news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $19.00, for a total value of $35,060,852.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 955 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total transaction of $284,590.00. Following the completion of the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at $2,955,564. This represents a 8.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,069,344 shares of company stock worth $104,708,426 in the last three months. 12.99% of the stock is owned by corporate insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Alphabet Profile

(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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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