Alphabet Inc. (NASDAQ:GOOG) is ProVise Management Group LLC’s 8th Largest Position

ProVise Management Group LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.4% in the fourth quarter, Holdings Channel reports. The fund owned 155,123 shares of the information services provider’s stock after buying an additional 5,050 shares during the quarter. Alphabet makes up about 1.9% of ProVise Management Group LLC’s portfolio, making the stock its 8th biggest position. ProVise Management Group LLC’s holdings in Alphabet were worth $21,861,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Cranbrook Wealth Management LLC boosted its holdings in Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after purchasing an additional 70 shares during the last quarter. Manchester Financial Inc. raised its stake in Alphabet by 3.6% during the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after buying an additional 74 shares in the last quarter. Atticus Wealth Management LLC raised its stake in Alphabet by 1.4% during the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after buying an additional 75 shares in the last quarter. Congress Park Capital LLC raised its position in shares of Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after purchasing an additional 76 shares during the period. Finally, Emerald Advisors LLC raised its position in shares of Alphabet by 0.6% during the 4th quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after purchasing an additional 76 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.7 %

Shares of GOOG stock traded up $1.27 on Friday, reaching $176.33. 11,395,938 shares of the company’s stock traded hands, compared to its average volume of 21,919,467. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $179.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $2.18 trillion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The business’s 50 day moving average price is $161.59 and its two-hundred day moving average price is $147.79.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the business posted $1.17 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 7.7 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

Analysts Set New Price Targets

Several research firms recently commented on GOOG. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $165.67.

Insider Activity at Alphabet

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,935 shares of company stock valued at $31,178,987. Insiders own 12.99% of the company’s stock.

Alphabet Company 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.