Bestgate Wealth Advisors LLC Invests $209,000 in Alphabet Inc. (NASDAQ:GOOG)

Bestgate Wealth Advisors LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,095 shares of the information services provider’s stock, valued at approximately $209,000.

A number of other large investors also recently added to or reduced their stakes in the business. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter valued at about $27,000. Weiss Asset Management LP purchased a new position in shares of Alphabet during the third quarter valued at about $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the third quarter valued at about $33,000. Noble Wealth Management PBC purchased a new position in shares of Alphabet during the fourth quarter valued at about $43,000. Finally, FPC Investment Advisory Inc. increased its position in shares of Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after buying an additional 167 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Down 2.3 %

Shares of NASDAQ GOOG opened at $162.67 on Wednesday. The firm’s 50 day moving average price is $186.10 and its 200-day moving average price is $178.10. The company has a market cap of $1.98 trillion, a PE ratio of 20.21, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $147.01 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is 9.94%.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred 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 $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 over the last three months. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush reiterated an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Benchmark reiterated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

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.