DT Investment Partners LLC Buys 1,500 Shares of Alphabet Inc. (NASDAQ:GOOG)

DT Investment Partners LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 8.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,840 shares of the information services provider’s stock after purchasing an additional 1,500 shares during the period. DT Investment Partners LLC’s holdings in Alphabet were worth $3,639,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at about $26,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the 4th quarter valued at $32,000. Pacific Capital Wealth Advisors Inc. bought a new position in Alphabet in the 4th quarter valued at $34,000. Richardson Financial Services Inc. acquired a new position in Alphabet in the fourth quarter worth $34,000. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of Alphabet during the second quarter worth $37,000. Institutional investors own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer upped their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities lowered 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. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and an average price target of $182.86.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total value of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares of the company’s stock, valued at $5,209,888.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total transaction of $118,572.52. Following 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 three months, insiders sold 179,065 shares of company stock worth $31,025,543. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 1.2 %

Shares of NASDAQ GOOG opened at $167.43 on Friday. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.68, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $176.34 and its 200-day moving average is $164.50.

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

Alphabet Announces Dividend

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