Fairman Group LLC Purchases Shares of 510 Alphabet Inc. (NASDAQ:GOOG)

Fairman Group LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 510 shares of the information services provider’s stock, valued at approximately $72,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. 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. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Trading Down 1.3 %

Shares of Alphabet stock opened at $176.45 on Wednesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.08. The company’s 50-day simple moving average is $170.48 and its 200-day simple moving average is $153.13.

Alphabet (NASDAQ:GOOG) last released 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. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the business posted $1.17 EPS. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.69 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared 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 of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total transaction of $266,880.00. Following the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now owns 3,727 shares of the company’s stock, valued at approximately $663,107.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,958 shares of company stock worth $22,383,553. Corporate insiders own 12.99% of the company’s stock.

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.