Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 14.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,588 shares of the information services provider’s stock after purchasing an additional 329 shares during the period. Spinnaker Investment Group LLC’s holdings in Alphabet were worth $404,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Principia Wealth Advisory LLC increased its position in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the period. LSV Asset Management acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet during the fourth quarter worth $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,070 shares of company stock valued at $37,745,632 over the last quarter. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GOOG shares. Westpark Capital reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Scotiabank reduced their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Price Performance

GOOG stock opened at $166.01 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $2.01 trillion, a P/E ratio of 18.51, a PEG ratio of 1.18 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock’s 50 day moving average price is $166.40 and its 200 day moving average price is $176.33.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.89 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business 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. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is 9.36%.

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.