Westhampton Capital LLC Buys 780 Shares of Alphabet Inc. (NASDAQ:GOOG)

Westhampton Capital LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 23.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,040 shares of the information services provider’s stock after buying an additional 780 shares during the quarter. Westhampton Capital LLC’s holdings in Alphabet were worth $615,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GOOG. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the fourth quarter worth about $26,000. Partnership Wealth Management LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet in the fourth quarter worth approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Alphabet during the fourth quarter worth $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.1 %

GOOG stock opened at $186.61 on Wednesday. The stock has a market capitalization of $2.31 trillion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $187.50. 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 50 day moving average of $174.93 and a 200 day moving average of $156.20.

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 analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders sold 123,788 shares of company stock valued at $21,143,403 over the last quarter. 12.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on GOOG shares. Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $167.86.

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.