BIP Alliance LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,109 shares of the information services provider's stock, valued at approximately $592,000. Alphabet makes up about 0.3% of BIP Alliance LLC's holdings, making the stock its 28th largest holding.
A number of other large investors also recently bought and sold shares of GOOG. Breakthru Advisory Services LLC acquired a new position in shares of Alphabet during the fourth quarter worth $855,000. Sunbelt Securities Inc. grew its holdings in shares of Alphabet by 1.2% during the fourth quarter. Sunbelt Securities Inc. now owns 35,481 shares of the information services provider's stock valued at $6,837,000 after buying an additional 415 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $274,000. Stonebridge Financial Planning Group LLC grew its holdings in shares of Alphabet by 5.8% during the fourth quarter. Stonebridge Financial Planning Group LLC now owns 6,738 shares of the information services provider's stock valued at $1,283,000 after buying an additional 369 shares during the last quarter. Finally, Breed s Hill Capital LLC grew its holdings in shares of Alphabet by 56.5% during the fourth quarter. Breed s Hill Capital LLC now owns 8,322 shares of the information services provider's stock valued at $1,585,000 after buying an additional 3,006 shares during the last quarter. Institutional investors own 27.26% of the company's stock.
Analyst Ratings Changes
GOOG has been the topic of a number of research analyst reports. Benchmark reissued a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reissued an "outperform" rating and set a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, UBS Group reduced their price objective on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $203.94.
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Alphabet Trading Up 2.1%
Shares of Alphabet stock traded up $3.65 during trading on Tuesday, hitting $173.24. The stock had a trading volume of 12,485,344 shares, compared to its average volume of 20,089,840. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.10 trillion, a PE ratio of 21.51, a P/E/G ratio of 1.34 and a beta of 1.01. The stock has a 50 day simple moving average of $160.54 and a 200 day simple moving average of $176.49. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company's revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared 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 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 1,374 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. This represents a 8.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction 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. The trade was a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock valued at $26,793,380 in the last 90 days. 12.99% of the stock is currently owned by company insiders.
About Alphabet
(
Free Report)
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.
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