Conway Capital Management Inc. Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Conway Capital Management Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 37,915 shares of the information services provider’s stock after purchasing an additional 350 shares during the period. Alphabet accounts for 3.2% of Conway Capital Management Inc.’s investment portfolio, making the stock its 8th largest position. Conway Capital Management Inc.’s holdings in Alphabet were worth $7,221,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in GOOG. Weiss Asset Management LP purchased a new stake in shares of Alphabet in the third quarter worth $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the 3rd quarter worth about $33,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $40,000. Sanctuary Wealth Management L.L.C. boosted its position in shares of Alphabet by 87.3% during the 3rd 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. Finally, Iron Horse Wealth Management LLC grew its holdings in shares of Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of recent analyst reports. Canaccord Genuity Group raised their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their target price on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Finally, UBS Group upped their price objective on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Alphabet Price Performance

GOOG stock opened at $201.90 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $187.95 and its two-hundred day moving average price is $175.31. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.55 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

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.