Sunbeam Capital Management LLC Buys New Position in Alphabet Inc. (NASDAQ:GOOGL)

Sunbeam Capital Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,412 shares of the information services provider's stock, valued at approximately $2,728,000. Alphabet accounts for 2.5% of Sunbeam Capital Management LLC's holdings, making the stock its 8th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth about $24,383,677,000. FMR LLC grew its holdings in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Northern Trust Corp grew its holdings in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Capital Research Global Investors grew its holdings in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now owns 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock worth $26,793,380 in the last three months. 11.64% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on GOOGL shares. Roth Mkm restated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Rosenblatt Securities restated a "neutral" rating and issued a $189.00 price target on shares of Alphabet in a report on Wednesday, May 21st. JMP Securities restated a "market perform" rating on shares of Alphabet in a report on Wednesday, May 21st. Finally, Citigroup upped their price target on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Stock Performance

GOOGL traded up $4.43 during trading on Tuesday, reaching $172.90. 37,917,640 shares of the company were exchanged, compared to its average volume of 29,780,742. The stock has a market cap of $2.10 trillion, a P/E ratio of 21.48, a PEG ratio of 1.34 and a beta of 1.01. The firm has a 50 day moving average of $158.67 and a 200 day moving average of $174.76. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the business earned $1.89 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.

Alphabet 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.