Riversedge Advisors LLC Has $1.09 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Riversedge Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,697 shares of the information services provider’s stock after acquiring an additional 370 shares during the quarter. Riversedge Advisors LLC’s holdings in Alphabet were worth $1,085,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter worth approximately $25,000. Abich Financial Wealth Management LLC increased its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $33,000. HWG Holdings LP bought a new stake in shares of Alphabet in the 2nd quarter valued at about $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted its position in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after buying an additional 117 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. UBS Group upped their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Up 1.6 %

Shares of NASDAQ:GOOG opened at $197.55 on Tuesday. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $202.88. The business has a fifty day moving average price of $185.92 and a two-hundred day moving average price of $174.76. 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 company has a market capitalization of $2.42 trillion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.21 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 earnings per share. Analysts forecast that Alphabet Inc. will post 8.03 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. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock worth $24,368,654 in the last quarter. 12.99% of the stock is owned by company insiders.

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.