Centric Wealth Management Acquires 983 Shares of Alphabet Inc. (NASDAQ:GOOG)

Centric Wealth Management lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,918 shares of the information services provider’s stock after purchasing an additional 983 shares during the quarter. Centric Wealth Management’s holdings in Alphabet were worth $1,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. Tandem Wealth Advisors LLC bought a new stake in Alphabet during the third quarter worth $25,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the 4th quarter valued at $32,000. Finally, Buck Wealth Strategies LLC acquired a new position in shares of Alphabet during the 3rd quarter worth $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 1.9 %

GOOG traded up $3.15 during trading on Tuesday, reaching $172.98. 21,087,028 shares of the company’s stock were exchanged, compared to its average volume of 22,735,842. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a one year low of $105.79 and a one year high of $176.42. The firm has a fifty day moving average price of $152.74 and a two-hundred day moving average price of $144.21. The stock has a market capitalization of $2.14 trillion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.17 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Ratings Changes

Several research analysts have commented on GOOG shares. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Raymond James boosted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $165.67.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 300 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares in the company, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 275,129 shares of company stock valued at $40,382,765. Company 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.