Dakota Wealth Management Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Dakota Wealth Management grew its position in Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,427 shares of the information services provider’s stock after buying an additional 491 shares during the period. Alphabet accounts for approximately 0.8% of Dakota Wealth Management’s investment portfolio, making the stock its 23rd largest position. Dakota Wealth Management’s holdings in Alphabet were worth $21,622,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. DC Investments Management LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $115,000. Guardian Wealth Management Inc. purchased a new position in shares of Alphabet during the 1st quarter worth approximately $184,000. Turim 21 Investimentos Ltda. boosted its position in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares during the period. qPULA Trading Management LP purchased a new position in shares of Alphabet during the 1st quarter worth approximately $279,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of Alphabet by 29.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock worth $321,000 after purchasing an additional 26 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of Alphabet 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 sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 228,839 shares of company stock worth $32,835,757. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $156.00 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. The stock has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.44 and a beta of 1.05. The firm has a 50 day moving average of $146.95 and a two-hundred day moving average of $141.51.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter last year, the company posted $1.05 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of research analyst reports. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Raymond James increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $159.86.

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.