&Partners Grows Holdings in Alphabet Inc. (NASDAQ:GOOG)

&Partners grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 72.9% during the first quarter, Holdings Channel.com reports. The fund owned 9,697 shares of the information services provider’s stock after acquiring an additional 4,087 shares during the period. &Partners’ holdings in Alphabet were worth $1,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $26,000. Partnership Wealth Management LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction 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 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. Insiders sold a total of 135,958 shares of company stock worth $22,383,553 in the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

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

Alphabet Trading Up 1.4 %

Shares of Alphabet stock opened at $180.26 on Monday. The company has a fifty day simple moving average of $171.61 and a 200-day simple moving average of $154.11. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $182.51. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.23 trillion, a price-to-earnings ratio of 27.65, a PEG ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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.