Agate Pass Investment Management LLC Buys 3,392 Shares of Alphabet Inc. (NASDAQ:GOOG)

Agate Pass Investment Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 41.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,556 shares of the information services provider's stock after purchasing an additional 3,392 shares during the period. Agate Pass Investment Management LLC's holdings in Alphabet were worth $1,805,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $27,000. LSV Asset Management bought a new stake in shares of Alphabet in the 4th quarter valued at $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet in the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet in the 4th quarter valued at $43,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GOOG has been the subject of a number of recent analyst reports. Westpark Capital restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $204.88.

Alphabet Stock Down 1.4%

Shares of Alphabet stock traded down $2.48 during trading hours on Monday, reaching $170.37. 24,665,355 shares of the company's stock were exchanged, compared to its average volume of 20,257,385. The company has a 50 day moving average of $160.95 and a two-hundred day moving average of $176.24. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.07 trillion, a P/E ratio of 21.16, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the business posted $1.89 EPS. The company's quarterly revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast 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. This represents a $0.84 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated 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 directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,270 shares of company stock worth $26,553,563. Insiders own 12.99% of the company's stock.

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.