4,303 Shares in Alphabet Inc. (NASDAQ:GOOG) Purchased by Sunbeam Capital Management LLC

Sunbeam Capital Management LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,303 shares of the information services provider's stock, valued at approximately $819,000. Alphabet makes up about 1.8% of Sunbeam Capital Management LLC's investment portfolio, making the stock its 16th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. ARQ Wealth Advisors LLC lifted its position in shares of Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares in the last quarter. GPS Wealth Strategies Group LLC increased its stake in shares of Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 1,041 shares in the last quarter. Harvest Investment Services LLC raised its position in shares of Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after purchasing an additional 138 shares during the last quarter. North Forty Two & Co. acquired a new stake in Alphabet in the 4th quarter worth about $281,000. Finally, SageView Advisory Group LLC increased its stake in Alphabet by 140.6% during the 4th quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider's stock worth $2,806,000 after buying an additional 8,610 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O'toole sold 1,374 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock valued at $26,793,380 over the last quarter. Company insiders own 12.99% of the company's stock.

Alphabet Trading Up 0.1%

GOOG stock traded up $0.18 on Wednesday, hitting $174.16. 11,495,038 shares of the company were exchanged, compared to its average volume of 20,102,129. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business's fifty day moving average is $160.72 and its two-hundred day moving average is $176.47. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results 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. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet's payout ratio is 9.36%.

Wall Street Analyst Weigh In

Several analysts recently commented on GOOG shares. Wedbush reiterated an "outperform" rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. KeyCorp lowered their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.