Spinnaker Investment Group LLC Acquires 83 Shares of Alphabet Inc. (NASDAQ:GOOG)

Spinnaker Investment Group LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,341 shares of the information services provider’s stock after acquiring an additional 83 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Alphabet were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Fiduciary Alliance LLC increased its position in Alphabet by 1.4% during the first quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock worth $762,000 after buying an additional 67 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in shares of Alphabet by 0.8% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after purchasing an additional 68 shares during the last quarter. Cranbrook Wealth Management LLC boosted 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 worth $80,000 after purchasing an additional 70 shares during the last quarter. Saratoga Research & Investment Management boosted its holdings in shares of Alphabet by 0.5% during the first quarter. Saratoga Research & Investment Management now owns 14,706 shares of the information services provider’s stock worth $2,239,000 after purchasing an additional 72 shares during the last quarter. Finally, Manchester Financial Inc. boosted 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 worth $299,000 after purchasing an additional 74 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.4 %

Shares of NASDAQ GOOG opened at $187.39 on Friday. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $187.62. The firm has a market cap of $2.32 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.41 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock’s 50-day simple moving average is $176.58 and its 200-day simple moving average is $157.00.

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

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

GOOG has been the topic of several analyst reports. Stifel Nicolaus raised 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 raised 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. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $167.86.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,288 shares of company stock valued at $25,345,053. 12.99% of the stock is currently owned by 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.