Tiptree Advisors LLC Purchases New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Tiptree Advisors LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Compass Planning Associates Inc bought a new position in shares of Alphabet in the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $39,000. PayPay Securities Corp grew its stake in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in Alphabet in the fourth quarter valued at $49,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company's stock, valued at $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,654 shares of company stock valued at $26,793,380 over the last three months. Insiders own 11.55% of the company's stock.

Alphabet Stock Down 0.5%

NASDAQ GOOGL traded down $0.83 during trading hours on Thursday, reaching $171.53. 18,618,454 shares of the company's stock traded hands, compared to its average volume of 29,794,731. The firm has a 50-day simple moving average of $159.04 and a 200 day simple moving average of $174.73. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm has a market cap of $2.08 trillion, a PE ratio of 21.27, a PEG 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.

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

Alphabet Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. Tigress Financial raised their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Stifel Nicolaus lowered their price objective on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Piper Sandler increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $199.75.

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.