Walter Public Investments Inc. Has $25.25 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Walter Public Investments Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,623 shares of the information services provider's stock after purchasing an additional 3,866 shares during the period. Alphabet comprises 4.7% of Walter Public Investments Inc.'s portfolio, making the stock its 5th largest holding. Walter Public Investments Inc.'s holdings in Alphabet were worth $25,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hutchinson Capital Management CA boosted its holdings in Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after purchasing an additional 54 shares in the last quarter. M. Kulyk & Associates LLC raised its stake in shares of Alphabet by 0.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock valued at $1,227,000 after acquiring an additional 56 shares in the last quarter. Retirement Planning Co of New England Inc. raised its stake in shares of Alphabet by 0.4% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock valued at $3,043,000 after acquiring an additional 56 shares in the last quarter. Concentrum Wealth Management raised its stake in shares of Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after acquiring an additional 57 shares in the last quarter. Finally, JDM Financial Group LLC raised its stake in shares of Alphabet by 10.6% in the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Insider Buying and Selling

In related news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the transaction, the director directly owned 255,400 shares of the company's stock, valued at $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 in the last three months. Insiders own 12.99% of the company's stock.

Alphabet Price Performance

GOOG stock traded up $1.47 during trading on Friday, hitting $180.17. 6,935,405 shares of the stock traded hands, compared to its average volume of 21,339,763. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock has a market cap of $2.19 trillion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 1.25 and a beta of 1.01. The company has a 50 day simple moving average of $171.19 and a 200 day simple moving average of $175.18. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - 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 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. The firm's quarterly revenue was up 12.0% on a year-over-year basis. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet's dividend payout ratio is 9.36%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOG. Westpark Capital reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday. Finally, Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and six have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $206.80.

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.