Shepherd Financial Partners LLC Increases Position in Alphabet Inc. (NASDAQ:GOOG)

Shepherd Financial Partners LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,643 shares of the information services provider's stock after purchasing an additional 1,483 shares during the period. Alphabet accounts for approximately 1.1% of Shepherd Financial Partners LLC's holdings, making the stock its 22nd biggest position. Shepherd Financial Partners LLC's holdings in Alphabet were worth $9,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Principia Wealth Advisory LLC lifted 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 last quarter. LSV Asset Management bought a new position in shares of Alphabet in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet in the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the 4th quarter valued at about $43,000. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Down 1.8%

Shares of NASDAQ:GOOG traded down $3.25 during trading on Thursday, reaching $173.98. 32,365,363 shares of the company were exchanged, compared to its average volume of 20,579,241. The firm has a market capitalization of $2.11 trillion, a PE ratio of 19.40, a P/E/G ratio of 1.23 and a beta of 1.01. The business's fifty day simple moving average is $165.77 and its 200-day simple moving average is $176.42. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results 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. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the transaction, the chief executive officer now owns 2,587,696 shares of the company's stock, valued at $436,570,192.16. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GOOG. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. KeyCorp lowered their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, Scotiabank lowered their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $204.88.

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.