Armis Advisers LLC Acquires New Shares in Alphabet Inc. (NASDAQ:GOOG)

Armis Advisers LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,932 shares of the information services provider's stock, valued at approximately $1,701,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOG. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the fourth quarter worth about $27,000. LSV Asset Management bought a new stake in Alphabet in the fourth quarter worth about $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet during the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet during the 4th quarter worth about $43,000. Institutional investors own 27.26% of the company's stock.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of research reports. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Finally, Benchmark reissued a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $203.94.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,654 shares of company stock valued at $26,793,380 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG traded down $0.60 on Wednesday, reaching $173.38. The stock had a trading volume of 24,106,636 shares, compared to its average volume of 20,150,784. 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 firm has a fifty day moving average of $160.72 and a two-hundred day moving average of $176.47. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a market cap of $2.10 trillion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued 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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm 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 firm posted $1.89 EPS. The company's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is currently 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.