3,160 Shares in Alphabet Inc. $GOOG Purchased by 5th Street Advisors LLC

Key Points

• 5th Street Advisors LLC has acquired a new stake in Alphabet Inc., purchasing 3,160 shares valued at approximately $494,000.
• Insider sales reported include CEO Sundar Pichai selling 32,500 shares for about $5.8 million, and Director Kavitark Ram Shriram selling 18,566 shares for approximately $3.4 million.
• Alphabet has recently announced a quarterly dividend of $0.21 per share, with a yield of 0.4% and a payout ratio of 8.95%.

5th Street Advisors LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,160 shares of the information services provider's stock, valued at approximately $494,000.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Principia Wealth Advisory LLC raised its holdings in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the first quarter worth $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Alphabet during the first quarter worth $32,000. Greykasell Wealth Strategies Inc. purchased a new stake in shares of Alphabet during the first quarter worth $32,000. Finally, Elevate Wealth Advisory Inc. purchased a new stake in shares of Alphabet during the first quarter worth $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GOOG shares. Scotiabank increased their target price on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group reissued a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Pivotal Research increased their target price on shares of Alphabet from $245.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $227.56.

Alphabet Stock Performance

Shares of GOOG stock traded up $1.56 during trading hours on Thursday, reaching $232.66. 30,895,120 shares of the company's stock were exchanged, compared to its average volume of 24,027,895. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $232.77. The stock has a market capitalization of $2.81 trillion, a P/E ratio of 24.78, a P/E/G ratio of 1.44 and a beta of 1.01. The business has a fifty day moving average price of $194.34 and a 200-day moving average price of $176.23. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 222,210 shares of company stock worth $41,742,155 over the last ninety days. Corporate 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.