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

Seros Financial LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,539 shares of the information services provider’s stock, valued at approximately $282,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ninepoint Partners LP raised its stake in shares of Alphabet by 7.4% during the second quarter. Ninepoint Partners LP now owns 7,423 shares of the information services provider’s stock valued at $1,362,000 after purchasing an additional 514 shares during the period. Texas Capital Bancshares Inc TX purchased a new stake in shares of Alphabet during the second quarter worth about $306,000. Kathmere Capital Management LLC boosted its holdings in Alphabet by 19.4% in the second quarter. Kathmere Capital Management LLC now owns 18,531 shares of the information services provider’s stock valued at $3,399,000 after purchasing an additional 3,010 shares during the last quarter. Empirical Capital Management LLC increased its holdings in Alphabet by 244.8% during the 2nd quarter. Empirical Capital Management LLC now owns 100,000 shares of the information services provider’s stock worth $18,342,000 after purchasing an additional 71,000 shares during the last quarter. Finally, Rockport Wealth LLC raised its position in shares of Alphabet by 134.0% in the 2nd quarter. Rockport Wealth LLC now owns 4,365 shares of the information services provider’s stock valued at $801,000 after purchasing an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,387 shares of company stock worth $24,368,654. 12.99% of the stock is owned by company insiders.

Analyst Ratings Changes

GOOG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Scotiabank boosted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, UBS Group lifted their price objective on shares of 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 assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.13.

Alphabet Trading Up 1.2 %

NASDAQ:GOOG opened at $201.90 on Friday. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The business has a fifty day moving average of $187.95 and a 200-day moving average of $175.31.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.40%. Alphabet’s dividend payout ratio (DPR) 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.