Sunbeam Capital Management LLC Makes New $819,000 Investment in Alphabet Inc. (NASDAQ:GOOG)

Sunbeam Capital Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,303 shares of the information services provider's stock, valued at approximately $819,000. Alphabet comprises about 1.8% of Sunbeam Capital Management LLC's holdings, making the stock its 16th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Alphabet during the 4th quarter worth approximately $5,166,070,000. Raymond James Financial Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $1,551,533,000. Northern Trust Corp boosted its holdings in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the last quarter. GQG Partners LLC boosted its holdings in shares of Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after acquiring an additional 7,221,746 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after acquiring an additional 5,758,244 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director now owns 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 disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock valued at $26,793,380 in the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Up 2.6%

GOOG stock traded up $4.39 during midday trading on Tuesday, reaching $173.98. 24,270,643 shares of the company were exchanged, compared to its average volume of 23,056,326. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock's 50-day simple moving average is $160.54 and its 200 day simple moving average is $176.49. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.61, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data 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 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 analysts' expectations of $89.30 billion. During the same quarter last year, the company earned $1.89 earnings per share. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on GOOG. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. KeyCorp dropped their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" 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 assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $203.94.

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.