Alphabet Inc. (NASDAQ:GOOG) Position Increased by Old Well Partners LLC

Old Well Partners LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 58.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,650 shares of the information services provider's stock after buying an additional 11,300 shares during the quarter. Alphabet accounts for approximately 11.1% of Old Well Partners LLC's portfolio, making the stock its 3rd biggest position. Old Well Partners LLC's holdings in Alphabet were worth $5,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. GPS Wealth Strategies Group LLC lifted its position in shares of Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after acquiring an additional 1,041 shares during the period. Harvest Investment Services LLC raised its holdings in Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after buying an additional 138 shares during the last quarter. North Forty Two & Co. bought a new stake in Alphabet in the fourth quarter valued at $281,000. SageView Advisory Group LLC increased its stake in Alphabet by 140.6% in the 4th quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider's stock valued at $2,806,000 after buying an additional 8,610 shares during the last quarter. Finally, Requisite Capital Management LLC purchased a new stake in Alphabet during the 4th quarter worth about $927,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Price Performance

Alphabet stock opened at $159.58 on Tuesday. The business has a fifty day moving average of $160.65 and a two-hundred day moving average of $176.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $1.94 trillion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the business earned $1.89 EPS. The company's revenue was up 12.0% on a year-over-year basis. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent research reports. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Westpark Capital restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, KeyCorp cut their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $203.94.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares in the company, valued at approximately $7,997,521.61. The trade was a 29.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. This trade represents a 9.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,324 shares of company stock worth $30,153,353 over the last ninety days. Insiders own 12.99% of the company's stock.

Alphabet 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.

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