Wingate Wealth Advisors Inc. Takes Position in Alphabet Inc. (NASDAQ:GOOG)

Wingate Wealth Advisors Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 783 shares of the information services provider’s stock, valued at approximately $149,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&G PLC purchased a new position in shares of Alphabet during the 3rd quarter worth $2,240,000. GPS Wealth Strategies Group LLC lifted its position in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider’s stock valued at $3,094,000 after buying an additional 1,041 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock worth $19,642,000 after buying an additional 14,738 shares during the period. Metis Global Partners LLC increased its position in shares of Alphabet by 1.4% during the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock valued at $50,488,000 after acquiring an additional 4,292 shares during the last quarter. Finally, Requisite Capital Management LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $927,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOOG shares. Barclays increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped 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. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Up 1.3 %

Alphabet stock opened at $187.88 on Friday. The stock has a market cap of $2.30 trillion, a PE ratio of 23.34, a P/E/G ratio of 1.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The stock’s fifty day moving average is $193.89 and its two-hundred day moving average is $176.47. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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 expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Activity

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. 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. Corporate insiders own 12.99% 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.