Kings Path Partners LLC Invests $88,000 in Alphabet Inc. (NASDAQ:GOOG)

Kings Path Partners LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 480 shares of the information services provider’s stock, valued at approximately $88,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Park Avenue Securities LLC raised its stake in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after purchasing an additional 11,646 shares during the last quarter. Colonial River Wealth Management LLC increased its holdings in Alphabet by 5.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock worth $390,000 after buying an additional 107 shares in the last quarter. Apexium Financial LP increased its holdings in Alphabet by 335.9% in the 4th quarter. Apexium Financial LP now owns 53,823 shares of the information services provider’s stock worth $7,586,000 after buying an additional 41,476 shares in the last quarter. Oak Ridge Investments LLC boosted its stake in shares of Alphabet by 4.6% in the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after buying an additional 8,201 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in Alphabet by 0.7% during the first quarter. V Square Quantitative Management LLC now owns 62,917 shares of the information services provider’s stock valued at $9,580,000 after acquiring an additional 426 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at approximately $5,209,888.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $167.66, for a total transaction of $3,772,350.00. Following the sale, the chief executive officer now directly owns 2,159,885 shares of the company’s stock, valued at approximately $362,126,319.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,065 shares of company stock worth $31,025,543. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research note on Friday, June 28th. Oppenheimer upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus target price of $182.86.

Alphabet Stock Performance

GOOG opened at $165.11 on Friday. The company has a 50 day simple moving average of $175.10 and a two-hundred day simple moving average of $165.12. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $2.04 trillion, a P/E ratio of 25.32, a PEG ratio of 1.28 and a beta of 1.05. Alphabet Inc. has a 1-year low of $121.46 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $84.22 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. Alphabet’s quarterly revenue was up 13.6% compared to the same quarter last year. Equities analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 9th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, September 9th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is 12.27%.

About Alphabet

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.