Atlantic Private Wealth LLC Has $761,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Atlantic Private Wealth LLC significantly increased its holdings in Alphabet Inc. by 387.4% during the first quarter, now owning 4,874 shares valued at approximately $761,000, making it the firm's 25th largest position.
• Alphabet recently reported quarterly earnings with $2.31 EPS, surpassing expectations and showing a 13.8% year-over-year revenue growth, totaling $96.43 billion for the quarter.
• The company has declared a quarterly dividend of $0.21 per share, representing an annualized yield of 0.4%, to be paid on September 15th to shareholders of record.

Atlantic Private Wealth LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 387.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,874 shares of the information services provider's stock after buying an additional 3,874 shares during the period. Alphabet comprises approximately 0.6% of Atlantic Private Wealth LLC's holdings, making the stock its 25th biggest holding. Atlantic Private Wealth LLC's holdings in Alphabet were worth $761,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after buying an additional 20,855 shares in the last quarter. Rollins Financial Advisors LLC boosted its position in Alphabet by 13.5% during the 4th quarter. Rollins Financial Advisors LLC now owns 2,689 shares of the information services provider's stock worth $512,000 after acquiring an additional 320 shares during the period. Shelton Capital Management grew its position in Alphabet by 5.6% in the 4th quarter. Shelton Capital Management now owns 329,765 shares of the information services provider's stock valued at $62,800,000 after buying an additional 17,412 shares in the last quarter. Finally, Capula Management Ltd bought a new position in shares of Alphabet in the fourth quarter valued at approximately $83,794,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Pivotal Research increased their price objective on Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $215.19.

Alphabet Stock Performance

Shares of GOOG traded up $0.36 on Thursday, reaching $197.28. 14,292,926 shares of the stock traded hands, compared to its average volume of 25,208,792. The firm has a market cap of $2.39 trillion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.31 and a beta of 1.02. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The stock's 50-day moving average price is $181.28 and its 200-day moving average price is $174.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock valued at $49,474,273 in the last ninety days. Insiders own 12.99% of the company's stock.

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.