Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Single Point Partners LLC

Single Point Partners LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 7,538.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 507,576 shares of the information services provider's stock after purchasing an additional 500,931 shares during the period. Alphabet makes up 15.7% of Single Point Partners LLC's investment portfolio, making the stock its 2nd largest holding. Single Point Partners LLC's holdings in Alphabet were worth $79,299,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Principia Wealth Advisory LLC grew its position in 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 buying an additional 85 shares during the last quarter. LSV Asset Management acquired a new position in Alphabet during the 4th quarter worth approximately $27,000. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 3.0%

Shares of Alphabet stock opened at $174.92 on Monday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50 day moving average price of $161.88 and a 200 day moving average price of $176.09. The company has a market capitalization of $2.12 trillion, a P/E ratio of 21.73, a P/E/G 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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the firm posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction 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 of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GOOG shares. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Susquehanna restated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. UBS Group reduced their price objective on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.88.

Alphabet 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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

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.