Elmwood Wealth Management Inc. Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Elmwood Wealth Management Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,882 shares of the information services provider’s stock after purchasing an additional 287 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in Alphabet were worth $1,882,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GOOG. Weiss Asset Management LP acquired a new position in Alphabet during the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in Alphabet during the third quarter valued at approximately $33,000. Abich Financial Wealth Management LLC lifted its position in Alphabet by 9,200.0% during the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. HWG Holdings LP acquired a new position in Alphabet during the second quarter valued at approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. lifted its position in Alphabet by 87.3% during 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 in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their target price 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. Scotiabank initiated coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 target price on the stock. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Down 0.5 %

Shares of NASDAQ:GOOG opened at $192.29 on Tuesday. The stock has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $202.88. The company’s fifty day moving average is $184.55 and its two-hundred day moving average is $174.49. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter last year, the company earned $1.55 EPS. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This trade represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,053 shares of company stock valued at $27,559,701 in the last quarter. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.