Alphabet Inc. (NASDAQ:GOOG) is Atlas Wealth LLC’s 8th Largest Position

Atlas Wealth LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,676 shares of the information services provider’s stock after purchasing an additional 2,715 shares during the period. Alphabet makes up 3.6% of Atlas Wealth LLC’s holdings, making the stock its 8th biggest holding. Atlas Wealth LLC’s holdings in Alphabet were worth $9,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after buying an additional 264,962 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Alphabet by 7.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 13,526 shares of the information services provider’s stock valued at $2,261,000 after acquiring an additional 909 shares during the period. Citizens Financial Group Inc. RI lifted its holdings in shares of Alphabet by 1.0% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 210,657 shares of the information services provider’s stock worth $35,220,000 after acquiring an additional 2,151 shares during the last quarter. Cornerstone Advisors LLC boosted its position in shares of Alphabet by 0.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 591,000 shares of the information services provider’s stock worth $98,809,000 after purchasing an additional 3,600 shares during the period. Finally, Intech Investment Management LLC increased its holdings in Alphabet by 26.5% in the 3rd quarter. Intech Investment Management LLC now owns 821,450 shares of the information services provider’s stock valued at $137,338,000 after purchasing an additional 172,077 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a research report on Wednesday. Benchmark restated a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Wedbush reaffirmed an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.13.

Alphabet Stock Performance

Shares of GOOG opened at $165.05 on Friday. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $148.01 and a 52-week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a 50 day moving average price of $184.91 and a 200 day moving average price of $177.93.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the stock in a transaction 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 sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock valued at $17,374,274 in the last three months. 12.99% of the stock is currently owned by company insiders.

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.