Monterey Private Wealth Inc. Buys 1,161 Shares of Alphabet Inc. (NASDAQ:GOOG)

Monterey Private Wealth Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,637 shares of the information services provider’s stock after purchasing an additional 1,161 shares during the quarter. Alphabet accounts for about 0.7% of Monterey Private Wealth Inc.’s holdings, making the stock its 26th biggest holding. Monterey Private Wealth Inc.’s holdings in Alphabet were worth $2,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after buying an additional 3,113,395 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Alphabet by 65.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,294,332 shares of the information services provider’s stock valued at $1,052,349,000 after buying an additional 2,500,621 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Alphabet by 182.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after buying an additional 1,630,701 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after buying an additional 1,291,274 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOG opened at $199.58 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 26.47, a P/E/G ratio of 1.27 and a beta of 0.99. The company’s 50-day simple moving average is $186.95 and its two-hundred day simple moving average is $175.06. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the business earned $1.55 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 8.03 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This represents a 4.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 in the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GOOG shares. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. 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 price objective on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

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.