Family Management Corp Purchases 94 Shares of Alphabet Inc. (NASDAQ:GOOG)

Family Management Corp raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,319 shares of the information services provider’s stock after acquiring an additional 94 shares during the quarter. Family Management Corp’s holdings in Alphabet were worth $1,394,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. FWL Investment Management LLC lifted its holdings in shares of Alphabet by 3.1% in the fourth quarter. FWL Investment Management LLC now owns 75,402 shares of the information services provider’s stock worth $14,360,000 after buying an additional 2,258 shares in the last quarter. Clark Capital Management Group Inc. increased its holdings in Alphabet by 7.5% in the 4th quarter. Clark Capital Management Group Inc. now owns 12,839 shares of the information services provider’s stock valued at $2,445,000 after acquiring an additional 894 shares during the last quarter. Diligent Investors LLC lifted its stake in Alphabet by 13.5% in the 4th quarter. Diligent Investors LLC now owns 3,939 shares of the information services provider’s stock worth $750,000 after purchasing an additional 469 shares in the last quarter. Dorsey Asset Management LLC grew its position in shares of Alphabet by 41.5% during the fourth quarter. Dorsey Asset Management LLC now owns 639,218 shares of the information services provider’s stock valued at $121,733,000 after purchasing an additional 187,600 shares in the last quarter. Finally, Dunhill Financial LLC increased its holdings in shares of Alphabet by 17.0% in the fourth quarter. Dunhill Financial LLC now owns 12,654 shares of the information services provider’s stock worth $2,410,000 after purchasing an additional 1,838 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on GOOG. Citigroup reissued a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. UBS Group cut their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Scotiabank reduced their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Westpark Capital restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $203.94.

Alphabet Trading Down 7.5 %

Shares of GOOG opened at $152.82 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.34 and a beta of 1.01. The company has a 50-day moving average of $161.59 and a 200 day moving average of $177.00. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.55%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,824 shares of company stock worth $25,086,603 over the last three months. 12.99% of the stock is owned by corporate insiders.

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.