Verum Partners LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Verum Partners LLC raised its position in Alphabet Inc. (NASDAQ:GOOG) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,819 shares of the information services provider’s stock after purchasing an additional 245 shares during the quarter. Verum Partners LLC’s holdings in Alphabet were worth $886,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GOOG. Kennedy Capital Management LLC lifted its holdings in shares of Alphabet by 13.2% in the 3rd quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock worth $8,532,000 after acquiring an additional 7,556 shares during the last quarter. Jackson Wealth Management LLC raised its position in Alphabet by 4.6% in the third quarter. Jackson Wealth Management LLC now owns 39,806 shares of the information services provider’s stock valued at $5,248,000 after purchasing an additional 1,735 shares during the period. JS Capital Management LLC boosted its position in shares of Alphabet by 164.0% during the third quarter. JS Capital Management LLC now owns 330,000 shares of the information services provider’s stock worth $43,510,000 after buying an additional 205,000 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the period. Finally, Seven Eight Capital LP grew its stake in shares of Alphabet by 48.1% in the third quarter. Seven Eight Capital LP now owns 88,776 shares of the information services provider’s stock valued at $11,705,000 after buying an additional 28,838 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer raised their price target 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. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Finally, Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $186.61 on Wednesday. The stock has a 50 day moving average of $174.93 and a two-hundred day moving average of $156.20. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $187.50. The stock has a market cap of $2.31 trillion, a P/E ratio of 28.62, a P/E/G ratio of 1.38 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

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

Alphabet Dividend Announcement

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

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 123,788 shares of company stock valued at $21,143,403. 12.99% of the stock is owned by company insiders.

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.