Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Grandview Asset Management LLC

Grandview Asset Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 23,858 shares of the information services provider's stock after purchasing an additional 2,152 shares during the period. Alphabet accounts for about 1.4% of Grandview Asset Management LLC's holdings, making the stock its 17th biggest holding. Grandview Asset Management LLC's holdings in Alphabet were worth $3,727,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GOOG. LSV Asset Management acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $27,000. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the period. WealthTrak Capital Management LLC purchased a new stake in Alphabet in the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the 4th quarter worth $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet during the 4th quarter worth $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG opened at $173.98 on Thursday. 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 Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a 50-day simple moving average of $165.77 and a 200-day simple moving average of $176.42. The company has a market capitalization of $2.11 trillion, a PE ratio of 19.40, a P/E/G ratio of 1.25 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the business posted $1.89 earnings per share. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. UBS Group lowered their target price on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $204.88.

Insider Buying and Selling

In other news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is owned by insiders.

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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