Strive Asset Management LLC Acquires Shares of 13,414 Alphabet Inc. (NASDAQ:GOOG)

Strive Asset Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,414 shares of the information services provider's stock, valued at approximately $2,555,000. Alphabet makes up 1.9% of Strive Asset Management LLC's holdings, making the stock its 11th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Regent Peak Wealth Advisors LLC lifted its holdings in Alphabet by 0.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 17,606 shares of the information services provider's stock valued at $3,353,000 after purchasing an additional 108 shares during the last quarter. Cassaday & Co Wealth Management LLC lifted its holdings in shares of Alphabet by 9.3% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after buying an additional 2,390 shares in the last quarter. R.H. Investment Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $4,452,000. Rovin Capital UT ADV lifted its holdings in shares of Alphabet by 23.4% during the fourth quarter. Rovin Capital UT ADV now owns 2,908 shares of the information services provider's stock worth $554,000 after buying an additional 551 shares in the last quarter. Finally, Winch Advisory Services LLC lifted its holdings in shares of Alphabet by 0.4% during the fourth quarter. Winch Advisory Services LLC now owns 65,288 shares of the information services provider's stock worth $12,433,000 after buying an additional 231 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research reports. Wedbush reissued an "outperform" rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. KeyCorp dropped their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $203.94.

Alphabet Trading Down 1.5%

GOOG traded down $2.55 during trading on Tuesday, hitting $165.32. The company's stock had a trading volume of 33,460,475 shares, compared to its average volume of 19,806,588. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The stock's fifty day moving average price is $160.17 and its 200-day moving average price is $176.74. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 20.54, a PEG ratio of 1.34 and a beta of 1.01.

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 for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company 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 for the quarter was up 12.0% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current 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 given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,744 shares of company stock valued at $20,968,366 over the last ninety days. 12.99% of the stock is owned by company insiders.

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.