Almanack Investment Partners LLC. Has $1.61 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Almanack Investment Partners LLC. decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,421 shares of the information services provider's stock after selling 2,470 shares during the quarter. Almanack Investment Partners LLC.'s holdings in Alphabet were worth $1,612,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Anderson Financial Strategies LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $49,000. EQ Wealth Advisors LLC acquired a new stake in Alphabet during the first quarter worth approximately $49,000. Navigoe LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $51,000. Prudent Man Investment Management Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $53,000. Finally, Campbell Capital Management Inc. acquired a new stake in Alphabet during the fourth quarter worth approximately $57,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Alphabet Trading Up 0.2%

GOOGL traded up $0.44 during midday trading on Friday, hitting $179.08. 21,689,729 shares of the company were exchanged, compared to its average volume of 31,547,766. The firm has a market capitalization of $2.17 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm's 50 day moving average price is $168.70 and its 200-day moving average price is $173.97. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the prior year, the firm posted $1.89 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director owned 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,643 shares of company stock valued at $36,330,928. 11.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GOOGL shares. Wedbush set a $190.00 price target on Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Roth Mkm reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp upgraded Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research note on Friday, June 27th. JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 target price for the company in a research note on Friday, June 27th. Finally, Westpark Capital restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $199.95.

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.