Investment Management Corp VA ADV Buys Shares of 2,040 Alphabet Inc. (NASDAQ:GOOG)

Investment Management Corp VA ADV bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 2,040 shares of the information services provider's stock, valued at approximately $388,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $27,000. LSV Asset Management acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the fourth quarter worth approximately $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 112,054 shares of company stock worth $17,722,605 over the last 90 days. Insiders own 12.99% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on GOOG shares. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given 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, the company currently has an average rating of "Moderate Buy" and an average price target of $203.94.

Alphabet Stock Up 1.1%

Shares of NASDAQ:GOOG opened at $171.98 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $160.34 and a 200 day simple moving average of $176.63. The firm has a market cap of $2.09 trillion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.49%. Alphabet's payout ratio is presently 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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.