Concourse Financial Group Securities Inc. Has $3.23 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Concourse Financial Group Securities Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,919 shares of the information services provider’s stock after buying an additional 768 shares during the quarter. Concourse Financial Group Securities Inc.’s holdings in Alphabet were worth $3,230,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Tandem Wealth Advisors LLC acquired a new position in Alphabet during the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $26,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet during the 4th quarter worth $28,000. Buck Wealth Strategies LLC bought a new position in Alphabet during the third quarter worth about $32,000. Finally, Barometer Capital Management Inc. acquired a new position in Alphabet in the third quarter valued at about $32,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Up 0.2 %

Shares of NASDAQ:GOOG traded up $0.42 during midday trading on Thursday, reaching $171.58. The company had a trading volume of 11,914,729 shares, compared to its average volume of 22,523,879. Alphabet Inc. has a 1-year low of $108.48 and a 1-year high of $176.42. The stock has a market cap of $2.12 trillion, a PE ratio of 26.32, a P/E/G ratio of 1.26 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average price is $153.41 and its 200 day moving average price is $144.40.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. Research analysts forecast that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. 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. Susquehanna boosted 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 reiterated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Finally, Raymond James lifted their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $165.67.

Insider Activity

In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the completion of the sale, the chief executive officer now owns 2,355,191 shares in the company, valued at approximately $336,980,728.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock valued at $37,091,240 over the last three months. 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.