Fairman Group LLC Buys Shares of 510 Alphabet Inc. (NASDAQ:GOOG)

Fairman Group LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 510 shares of the information services provider’s stock, valued at approximately $72,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Veracity Capital LLC lifted its position in Alphabet by 12.4% in the 4th quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares in the last quarter. Independence Bank of Kentucky increased its stake in shares of Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after acquiring an additional 1,230 shares during the last quarter. Strategic Blueprint LLC raised its holdings in shares of Alphabet by 36.7% during the fourth quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock worth $2,123,000 after acquiring an additional 4,044 shares in the last quarter. Investment Partners LTD. boosted its position in Alphabet by 5.8% during the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after purchasing an additional 410 shares during the last quarter. Finally, Global Trust Asset Management LLC grew its stake in Alphabet by 4.5% in the fourth quarter. Global Trust Asset Management LLC now owns 14,916 shares of the information services provider’s stock valued at $2,102,000 after purchasing an additional 648 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer increased 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, Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $165.67.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $176.45 on Wednesday. The business’s 50-day simple moving average is $170.48 and its 200-day simple moving average is $153.13. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $182.08. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.17 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 7.69 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the sale, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, 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. Over the last ninety days, insiders have sold 135,958 shares of company stock worth $22,383,553. Company insiders own 12.99% of the company’s stock.

Alphabet 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.