Alphabet Inc. (NASDAQ:GOOGL) is Agate Pass Investment Management LLC’s 6th Largest Position

Agate Pass Investment Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 8.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,798 shares of the information services provider’s stock after purchasing an additional 3,830 shares during the quarter. Alphabet accounts for about 3.4% of Agate Pass Investment Management LLC’s holdings, making the stock its 6th largest holding. Agate Pass Investment Management LLC’s holdings in Alphabet were worth $8,010,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GOOGL. Compass Planning Associates Inc purchased a new stake in shares of Alphabet during the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Alphabet by 518.8% in 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 buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in Alphabet in the 4th quarter worth about $39,000. PayPay Securities Corp increased 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 in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director now owns 261,966 shares of the company’s stock, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,533 shares of company stock valued at $26,772,774 over the last quarter. 11.55% of the stock is owned by company insiders.

Alphabet Stock Down 0.3%

Shares of NASDAQ:GOOGL opened at $171.86 on Friday. The company has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 21.35, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business has a 50-day moving average price of $159.12 and a 200 day moving average price of $174.68. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same period last year, the business earned $1.89 earnings per share. Sell-side analysts expect 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. 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%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GOOGL. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Mizuho decreased their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Stifel Nicolaus dropped their target price on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC reissued a “buy” rating and issued a $178.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.