Sunbeam Capital Management LLC Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOG)

Sunbeam Capital Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 7,549 shares of the information services provider's stock, valued at approximately $1,438,000. Alphabet accounts for 1.3% of Sunbeam Capital Management LLC's holdings, making the stock its 19th biggest holding.

Several other large investors have also recently added to or reduced their stakes in the stock. Fiduciary Advisors Inc. bought a new stake in Alphabet in the fourth quarter worth approximately $27,000. LSV Asset Management bought a new stake in Alphabet in the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the fourth quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet in the fourth quarter worth approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet in the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on GOOG. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $203.94.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director now owns 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock worth $26,793,380 over the last ninety days. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of GOOG traded up $4.39 during trading hours on Tuesday, hitting $173.98. The company had a trading volume of 24,291,303 shares, compared to its average volume of 20,134,876. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.34 and a beta of 1.01. The business has a fifty day moving average of $160.54 and a 200-day moving average of $176.49. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. 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 (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating 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 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. The company's revenue was up 12.0% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed 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 represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is an increase 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%.

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.