Demars Financial Group LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

Demars Financial Group LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 467,911 shares of the information services provider’s stock, valued at approximately $89,109,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sterling Financial Planning Inc. grew its position in Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after acquiring an additional 50 shares during the last quarter. Arlington Trust Co LLC increased its stake in shares of Alphabet by 0.4% in the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock valued at $2,747,000 after buying an additional 52 shares during the period. Harrell Investment Partners LLC raised its holdings in Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock valued at $1,078,000 after buying an additional 53 shares during the last quarter. Ethos Financial Group LLC boosted its position in Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after buying an additional 53 shares during the period. Finally, Redhawk Wealth Advisors Inc. grew its holdings in Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after acquiring an additional 54 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. UBS Group dropped their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Finally, Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.88.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $155.50 on Thursday. The stock’s 50 day moving average price is $168.53 and its 200-day moving average price is $177.67. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a market capitalization of $1.90 trillion, a PE ratio of 19.32, a PEG ratio of 1.34 and a beta of 1.04.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the sale, the director now owns 7,613 shares of the company’s stock, valued at $1,232,544.70. The trade was a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,663 shares of company stock valued at $20,286,447 in the last 90 days. 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.