Partners Capital Investment Group LLP Invests $270,000 in Alphabet Inc. $GOOG

Key Points

• Partners Capital Investment Group LLP invested $270,000 in Alphabet Inc., purchasing 1,726 shares during the first quarter.
• Alphabet's stock currently has a market cap of $2.43 trillion, with a 1-year low of $142.66 and a high of $208.70.
• The company recently announced a quarterly dividend of $0.21, set to be paid on September 15, with a yield of 0.4%.

Partners Capital Investment Group LLP purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,726 shares of the information services provider's stock, valued at approximately $270,000.

Several other institutional investors have also recently bought and sold shares of GOOG. Brighton Jones LLC increased its position in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after purchasing an additional 20,855 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $9,663,000. Burling Wealth Partners LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $8,712,000. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of Alphabet by 4.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 176,368 shares of the information services provider's stock valued at $33,587,000 after purchasing an additional 8,122 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Pivotal Research upped 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. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Roth Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Oppenheimer restated an "outperform" rating and set a $235.00 target price (up from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Five investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Alphabet Price Performance

Shares of GOOG opened at $200.62 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a market cap of $2.43 trillion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. The stock's 50-day moving average price is $187.09 and its two-hundred day moving average price is $174.87.

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

Alphabet Announces Dividend

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

Insider Activity

In related news, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 6,916 shares of the company's stock, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 254,719 shares of company stock valued at $47,223,172. 12.99% of the stock is owned by company insiders.

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.

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