Fairman Group LLC Invests $244,000 in Alphabet Inc. (NASDAQ:GOOGL)

Fairman Group LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,750 shares of the information services provider’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Napatree Capital LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $467,000. Grayhawk Investment Strategies Inc. lifted its position in shares of Alphabet by 94.6% during the 4th quarter. Grayhawk Investment Strategies Inc. now owns 1,090 shares of the information services provider’s stock valued at $152,000 after buying an additional 530 shares in the last quarter. Ariston Services Group purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $734,000. Warren Street Wealth Advisors LLC lifted its position in shares of Alphabet by 5.8% during the 4th quarter. Warren Street Wealth Advisors LLC now owns 7,380 shares of the information services provider’s stock valued at $1,031,000 after buying an additional 402 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $6,951,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 0.5 %

Shares of Alphabet stock opened at $176.27 on Tuesday. The company has a fifty day simple moving average of $168.53 and a 200-day simple moving average of $151.42. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $180.41. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.18, a PEG ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the prior year, the business earned $1.17 EPS. On average, equities analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 158,458 shares of company stock worth $25,731,103 in the last 90 days. Company insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Citigroup increased their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Oppenheimer raised their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Needham & Company LLC raised their price objective on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Mizuho raised their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Royal Bank of Canada raised their price objective on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

Get Our Latest Analysis on GOOGL

Alphabet Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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