ProVise Management Group LLC Buys 5,050 Shares of Alphabet Inc. (NASDAQ:GOOG)

ProVise Management Group LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,123 shares of the information services provider’s stock after acquiring an additional 5,050 shares during the period. Alphabet makes up about 1.9% of ProVise Management Group LLC’s holdings, making the stock its 8th largest holding. ProVise Management Group LLC’s holdings in Alphabet were worth $21,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of GOOG. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $26,000. Partnership Wealth Management LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $26,000. Equitec Proprietary Markets LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $28,000. Buck Wealth Strategies LLC purchased a new position in shares of Alphabet during the third quarter worth about $32,000. Finally, Barometer Capital Management Inc. purchased a new position in shares of Alphabet during the third quarter worth about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.7 %

GOOG stock traded up $1.27 during midday trading on Friday, hitting $176.33. The stock had a trading volume of 11,395,938 shares, compared to its average volume of 21,919,467. The firm has a market cap of $2.18 trillion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $179.95. The company’s 50-day moving average price is $161.59 and its 200 day moving average price is $147.79.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.17 EPS. On average, equities research analysts predict that Alphabet Inc. will post 7.7 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Analyst Ratings Changes

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

Insider Activity

In related news, Director John L. Hennessy sold 300 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 300 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 205,935 shares of company stock valued at $31,178,987 in the last ninety days. 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.