Osprey Private Wealth LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

Osprey Private Wealth LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 23.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,120 shares of the information services provider's stock after purchasing an additional 10,960 shares during the quarter. Alphabet accounts for approximately 5.3% of Osprey Private Wealth LLC's investment portfolio, making the stock its 4th largest position. Osprey Private Wealth LLC's holdings in Alphabet were worth $8,924,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. LSV Asset Management acquired a new position in Alphabet during the fourth quarter worth about $27,000. Principia Wealth Advisory LLC increased its position 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 in the last quarter. WealthTrak Capital Management LLC bought a new position in Alphabet in the 4th quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet in the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet in the fourth quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 0.6%

Shares of Alphabet stock traded down $1.09 on Friday, reaching $175.88. 20,848,122 shares of the company's stock were exchanged, compared to its average volume of 20,511,658. The company has a market capitalization of $2.13 trillion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm's 50-day moving average is $164.57 and its two-hundred day moving average is $176.34.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. Alphabet's revenue was up 12.0% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director now owns 261,966 shares of the company's stock, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock valued at $32,003,532 in the last three months. Corporate insiders own 12.99% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOG. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Citigroup reissued a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, Scotiabank dropped their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $204.88.

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.