Grandview Asset Management LLC Raises Stake in Alphabet Inc. (NASDAQ:GOOG)

Grandview Asset Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,830 shares of the information services provider’s stock after acquiring an additional 765 shares during the quarter. Alphabet accounts for approximately 1.6% of Grandview Asset Management LLC’s holdings, making the stock its 13th biggest holding. Grandview Asset Management LLC’s holdings in Alphabet were worth $3,476,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Partnership Wealth Management LLC bought a new position in shares of Alphabet during the 4th quarter valued at $26,000. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet during the 4th quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet during the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the 4th quarter valued at $32,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Alphabet during the 4th quarter valued at $34,000. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the sale, the director now directly 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 the SEC website. In related news, insider John Kent Walker sold 12,084 shares of Alphabet stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the transaction, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet 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 transaction, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,958 shares of company stock valued at $22,383,553. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GOOG. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target 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, the stock currently has an average rating of “Buy” and a consensus target price of $165.67.

Alphabet Price Performance

Shares of Alphabet stock opened at $180.26 on Friday. The firm has a market cap of $2.23 trillion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $182.51. 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 company’s fifty day simple moving average is $171.61 and its two-hundred day simple moving average is $153.81.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the company posted $1.17 EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts expect that Alphabet Inc. will post 7.6 EPS for the current 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 given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

Alphabet 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.