Golden Road Advisors LLC Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

Golden Road Advisors LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,186 shares of the information services provider’s stock, valued at approximately $308,000. Alphabet accounts for approximately 0.3% of Golden Road Advisors LLC’s investment portfolio, making the stock its 25th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Cranbrook Wealth Management LLC increased its holdings in shares of Alphabet by 14.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 70 shares in the last quarter. Manchester Financial Inc. increased its holdings in shares of Alphabet by 3.6% during the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 74 shares in the last quarter. Atticus Wealth Management LLC increased its holdings in Alphabet by 1.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after buying an additional 75 shares in the last quarter. Congress Park Capital LLC increased its holdings in Alphabet by 0.3% in the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after buying an additional 76 shares in the last quarter. Finally, Emerald Advisors LLC increased its holdings in Alphabet by 0.6% in the 4th quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock worth $1,912,000 after buying an additional 76 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 0.2 %

Alphabet stock opened at $178.78 on Tuesday. The business has a 50-day simple moving average of $170.11 and a two-hundred day simple moving average of $152.83. The company has a market cap of $2.21 trillion, a P/E ratio of 27.42, a P/E/G ratio of 1.32 and a beta of 1.01. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.08. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 EPS. Analysts predict that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The transaction 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 Alphabet stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $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 three months. 12.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GOOG shares. Stifel Nicolaus lifted their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $165.67.

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.