Fourpath Capital Management LLC Purchases 247 Shares of Alphabet Inc. (NASDAQ:GOOG)

Fourpath Capital Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,192 shares of the information services provider’s stock after acquiring an additional 247 shares during the quarter. Fourpath Capital Management LLC’s holdings in Alphabet were worth $4,248,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC grew its position in Alphabet by 9.3% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider’s stock worth $5,341,000 after purchasing an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC grew its position in Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock worth $6,088,000 after purchasing an additional 380 shares during the last quarter. Brighton Jones LLC grew its position in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Alphabet in the 4th quarter worth $204,262,000. Finally, Ascent Wealth Partners LLC grew its position in Alphabet by 246.2% in the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider’s stock worth $1,085,000 after purchasing an additional 4,052 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several recent research reports. The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. KeyCorp decreased their target price on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The shares were 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, May 7th. The shares were 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 directly owns 2,652,696 shares in the company, valued at $413,555,306.40. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is owned by insiders.

Alphabet Price Performance

Shares of GOOG stock opened at $177.63 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm’s 50 day moving average is $162.26 and its 200-day moving average is $176.17. The firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.34 and a beta of 1.01. 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:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during 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%. Alphabet’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm 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 dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is presently 9.36%.

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.