10Elms LLP Invests $305,000 in Alphabet Inc. (NASDAQ:GOOG)

10Elms LLP bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,600 shares of the information services provider's stock, valued at approximately $305,000.

Other large investors have also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $27,000. LSV Asset Management purchased a new position in Alphabet during the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet in the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet during the 4th quarter valued at $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOOG has been the topic of several research reports. JPMorgan Chase & Co. increased their target price on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $203.94.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $165.32 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The business has a 50 day moving average price of $160.18 and a two-hundred day moving average price of $176.66. The firm has a market cap of $2.01 trillion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.89 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,744 shares of company stock valued at $20,968,366 in the last ninety days. Corporate insiders own 12.99% of the company's stock.

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.

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