Tounjian Advisory Partners LLC Buys Shares of 52,334 Alphabet Inc. (NASDAQ:GOOGL)

Tounjian Advisory Partners LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 52,334 shares of the information services provider's stock, valued at approximately $8,093,000. Alphabet comprises about 1.5% of Tounjian Advisory Partners LLC's holdings, making the stock its 12th largest holding.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the 4th quarter valued at $30,000. PayPay Securities Corp increased its position in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares during the period. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet during the fourth quarter valued at about $49,000. Navigoe LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $51,000. Finally, Prudent Man Investment Management Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $53,000. Institutional investors own 40.03% of the company's stock.

Alphabet Trading Down 0.7%

NASDAQ GOOGL traded down $1.31 during trading on Thursday, hitting $176.04. The company had a trading volume of 14,353,050 shares, compared to its average volume of 30,330,001. The company's fifty day moving average is $161.71 and its 200-day moving average is $174.51. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.14 trillion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have commented on GOOGL shares. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Stifel Nicolaus decreased their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. UBS Group set a $195.00 price target on Alphabet 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 stock a "market perform" rating in a research report on Friday, April 25th. Finally, KeyCorp raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $199.75.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,570 shares of company stock valued at $32,003,532. 11.64% of the stock is currently owned by company insiders.

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.