Arrowpoint Investment Partners Singapore Pte. Ltd. Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Arrowpoint Investment Partners has acquired a new position in Alphabet Inc., purchasing 9,166 shares valued at approximately $1,432,000 during the first quarter.
• Inside transactions revealed that CEO Sundar Pichai sold 32,500 shares at $196.23, representing a 1.29% decrease in ownership.
• Alphabet is set to pay a quarterly dividend of $0.21 on September 15th, with an annualized yield of 0.4%.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 9,166 shares of the information services provider's stock, valued at approximately $1,432,000.

Other large investors have also modified their holdings of the company. Principia Wealth Advisory LLC increased its holdings in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC purchased a new stake in Alphabet during the 1st quarter worth about $26,000. LSV Asset Management purchased a new stake in Alphabet during the 4th quarter worth about $27,000. Goodman Advisory Group LLC purchased a new stake in Alphabet during the 1st quarter worth about $32,000. Finally, Greykasell Wealth Strategies Inc. purchased a new stake in Alphabet during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

Alphabet stock traded up $0.79 during mid-day trading on Thursday, reaching $203.82. 17,605,944 shares of the company were exchanged, compared to its average volume of 24,009,111. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The firm's 50-day simple moving average is $183.93 and its two-hundred day simple moving average is $174.75. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $2.46 trillion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.36 and a beta of 1.02.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the firm earned $1.89 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analyst Ratings Changes

Several brokerages have weighed in on GOOG. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Raymond James Financial reiterated an "outperform" rating and issued a $210.00 price objective (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Roth Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $215.19.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the sale, the chief executive officer directly owned 2,494,892 shares of the company's stock, valued at $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,219 shares of company stock valued at $49,674,273 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

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.