Rossby Financial LCC Has $1.89 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Rossby Financial LCC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 45.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,513 shares of the information services provider's stock after acquiring an additional 3,596 shares during the quarter. Alphabet comprises approximately 0.8% of Rossby Financial LCC's investment portfolio, making the stock its 23rd biggest holding. Rossby Financial LCC's holdings in Alphabet were worth $1,886,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GOOG. Principia Wealth Advisory LLC raised its stake 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 buying an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet during the first quarter worth about $26,000. LSV Asset Management bought a new position in shares of Alphabet during the 4th quarter valued at about $27,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $32,000. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $38,000. Institutional investors own 27.26% of the company's stock.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,143 shares of company stock worth $30,529,028. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

Shares of GOOG traded up $2.85 during trading hours on Wednesday, hitting $179.76. 19,297,508 shares of the company were exchanged, compared to its average volume of 21,124,652. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 20.04, a P/E/G ratio of 1.25 and a beta of 1.01. The firm's fifty day moving average is $168.84 and its 200 day moving average is $175.81. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly 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 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Analysts Set New Price Targets

GOOG has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. KeyCorp dropped their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Scotiabank cut their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Finally, UBS Group reduced their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and six have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.38.

Alphabet Company Profile

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.