Naviter Wealth LLC Has $5.64 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Naviter Wealth LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 21.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,014 shares of the information services provider’s stock after acquiring an additional 7,092 shares during the quarter. Alphabet makes up 1.1% of Naviter Wealth LLC’s holdings, making the stock its 18th biggest holding. Naviter Wealth LLC’s holdings in Alphabet were worth $5,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC boosted its position in shares of Alphabet by 2.1% during the 3rd quarter. Opal Wealth Advisors LLC now owns 5,486 shares of the information services provider’s stock worth $723,000 after purchasing an additional 111 shares in the last quarter. Czech National Bank raised its position in Alphabet by 45.8% in the 3rd quarter. Czech National Bank now owns 882,124 shares of the information services provider’s stock valued at $116,308,000 after buying an additional 277,156 shares during the last quarter. Warren Street Wealth Advisors LLC lifted its stake in Alphabet by 9.4% during the 3rd quarter. Warren Street Wealth Advisors LLC now owns 12,417 shares of the information services provider’s stock valued at $1,637,000 after acquiring an additional 1,063 shares in the last quarter. Benin Management CORP boosted its holdings in Alphabet by 161.6% during the 3rd quarter. Benin Management CORP now owns 10,425 shares of the information services provider’s stock worth $1,375,000 after acquiring an additional 6,440 shares during the last quarter. Finally, Intergy Private Wealth LLC grew its stake in shares of Alphabet by 5.4% in the 3rd quarter. Intergy Private Wealth LLC now owns 2,581 shares of the information services provider’s stock worth $340,000 after acquiring an additional 133 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOG stock opened at $169.39 on Tuesday. The company has a market cap of $2.11 trillion, a P/E ratio of 25.75, a PEG ratio of 1.59 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The firm has a 50-day moving average of $149.64 and a 200 day moving average of $142.97. Alphabet Inc. has a 1 year low of $104.50 and a 1 year high of $176.42.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 6.8 EPS for the current year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on GOOG. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Raymond James raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $165.67.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,209 shares of company stock valued at $36,711,144. Company insiders own 12.99% of the company’s stock.

About Alphabet

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.