67,700 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Tiptree Advisors LLC

Tiptree Advisors LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 67,700 shares of the information services provider's stock, valued at approximately $12,816,000. Alphabet makes up 13.3% of Tiptree Advisors LLC's investment portfolio, making the stock its 3rd largest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Rockbridge Capital Management LLC purchased a new position in shares of Alphabet in the 4th quarter valued at about $3,119,000. Optivise Advisory Services LLC lifted its stake in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after acquiring an additional 403 shares during the last quarter. Community Bank N.A. increased its position in shares of Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd raised its holdings in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after purchasing an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC grew its stake in shares of Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after purchasing an additional 258 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% 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, CAO Amie Thuener O'toole sold 673 shares of Alphabet 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 sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,654 shares of company stock worth $26,793,380. Corporate insiders own 11.64% of the company's stock.

Alphabet Price Performance

Shares of GOOGL traded up $4.43 during trading hours on Tuesday, hitting $172.90. The stock had a trading volume of 37,917,640 shares, compared to its average volume of 29,780,742. The stock has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.34 and a beta of 1.01. 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 company's fifty day moving average is $158.67 and its two-hundred day moving average is $174.76. 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 earnings per share for the quarter, topping 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 firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the firm earned $1.89 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. 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 dividend yield of 0.49%. Alphabet's payout ratio is currently 9.36%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOGL. Piper Sandler raised their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Sanford C. Bernstein upped their price objective on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. DZ Bank cut Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a research note on Thursday, February 6th. Roth Mkm reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $199.75.

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.