Fragasso Financial Advisors Inc Has $1.13 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Fragasso Financial Advisors Inc boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 5.1% in the 4th quarter, HoldingsChannel reports. The firm owned 5,950 shares of the information services provider’s stock after acquiring an additional 290 shares during the period. Fragasso Financial Advisors Inc’s holdings in Alphabet were worth $1,133,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Weiss Asset Management LP acquired a new stake in Alphabet in the 3rd quarter valued at about $25,000. Abich Financial Wealth Management LLC increased its holdings in shares of 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 worth $34,000 after purchasing an additional 184 shares during the period. Safe Harbor Fiduciary LLC bought a new position in shares of Alphabet during the third quarter worth approximately $33,000. HWG Holdings LP bought a new position in shares of Alphabet during the second quarter worth approximately $40,000. Finally, Sanctuary Wealth Management L.L.C. increased its stake in 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 acquiring an additional 117 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,387 shares of company stock worth $27,748,931. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG stock traded down $1.68 during trading hours on Monday, hitting $191.49. 7,463,960 shares of the company were exchanged, compared to its average volume of 15,600,424. The firm has a fifty day simple moving average of $184.12 and a 200 day simple moving average of $174.45. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $202.88. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.40, a P/E/G ratio of 1.34 and a beta of 0.99.

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, beating 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 during the quarter, compared to analyst estimates of $86.39 billion. During the same period in the previous year, the business earned $1.55 EPS. Alphabet’s revenue was up 15.1% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid 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 yield of 0.42%. Alphabet’s dividend payout ratio is 10.61%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOG. Barclays lifted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank began coverage on shares of Alphabet in a research note on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their price objective on shares of Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Company 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.