Burling Wealth Partners LLC Takes $8.71 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Burling Wealth Partners LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, HoldingsChannel reports. The firm bought 45,747 shares of the information services provider’s stock, valued at approximately $8,712,000. Alphabet makes up 1.8% of Burling Wealth Partners LLC’s portfolio, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Beck Capital Management LLC boosted its position in Alphabet by 0.5% in the 4th quarter. Beck Capital Management LLC now owns 29,655 shares of the information services provider’s stock valued at $5,647,000 after buying an additional 155 shares during the last quarter. Mar Vista Investment Partners LLC boosted its holdings in Alphabet by 4.5% in the fourth quarter. Mar Vista Investment Partners LLC now owns 274,339 shares of the information services provider’s stock valued at $52,245,000 after purchasing an additional 11,694 shares during the last quarter. Oxford Wealth Group LLC grew its stake in Alphabet by 3.8% during the 4th quarter. Oxford Wealth Group LLC now owns 3,069 shares of the information services provider’s stock valued at $584,000 after purchasing an additional 111 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $9,663,000. Finally, MGO One Seven LLC raised its position in shares of Alphabet by 15.7% in the 4th quarter. MGO One Seven LLC now owns 96,797 shares of the information services provider’s stock valued at $18,434,000 after purchasing an additional 13,113 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock valued at $25,361,647 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GOOG has been the subject of several recent analyst reports. UBS Group decreased their price objective on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Citigroup reiterated a “sell” rating on shares of Alphabet in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Oppenheimer boosted their price target on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.38.

Alphabet Price Performance

NASDAQ GOOG opened at $157.97 on Thursday. The company has a 50-day moving average price of $165.19 and a two-hundred day moving average price of $177.19. The stock has a market cap of $1.93 trillion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.