Alphabet Inc. (NASDAQ:GOOG) is GoodHaven Capital Management LLC's 2nd Largest Position

GoodHaven Capital Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,625 shares of the information services provider's stock after selling 4,605 shares during the period. Alphabet comprises about 8.9% of GoodHaven Capital Management LLC's investment portfolio, making the stock its 2nd largest position. GoodHaven Capital Management LLC's holdings in Alphabet were worth $26,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $5,166,070,000. GAMMA Investing LLC increased its stake in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Alphabet during the fourth quarter valued at $1,551,533,000. Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Finally, GQG Partners LLC raised its holdings in shares of Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,770 shares of company stock worth $32,036,638 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their target price on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Oppenheimer boosted their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $204.88.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $174.92 on Monday. The firm has a 50-day moving average of $161.88 and a two-hundred day moving average of $176.09. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. As a group, analysts expect 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. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.