Alphabet Inc. (NASDAQ:GOOG) is Darden Wealth Group Inc’s 10th Largest Position

Darden Wealth Group Inc increased its position in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,868 shares of the information services provider’s stock after acquiring an additional 175 shares during the period. Alphabet comprises approximately 1.9% of Darden Wealth Group Inc’s holdings, making the stock its 10th largest position. Darden Wealth Group Inc’s holdings in Alphabet were worth $2,831,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Weiss Asset Management LP purchased a new stake in Alphabet in the 3rd quarter worth $25,000. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter worth about $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the 4th quarter valued at about $43,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GOOG shares. Oppenheimer increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Westpark Capital began coverage on shares of Alphabet in a report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price objective on the stock. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Finally, Scotiabank boosted their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.65.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock worth $21,089,470 over the last quarter. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 3.2 %

Shares of NASDAQ GOOG opened at $147.74 on Friday. The stock has a fifty day moving average price of $177.04 and a 200 day moving average price of $178.43. The company has a market cap of $1.80 trillion, a P/E ratio of 18.35, a P/E/G ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 12-month low of $147.54 and a 12-month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its 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 net margin of 28.60% and a return on equity of 32.49%. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.54%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.