Steamboat Capital Partners LLC Has $20.11 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Steamboat Capital Partners LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,604 shares of the information services provider’s stock after selling 2,140 shares during the period. Alphabet comprises 6.2% of Steamboat Capital Partners LLC’s holdings, making the stock its 3rd largest position. Steamboat Capital Partners LLC’s holdings in Alphabet were worth $20,111,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. bought a new position in Alphabet during the 4th quarter worth about $27,000. LSV Asset Management bought a new position in shares of Alphabet in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet in the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet in the 4th quarter valued at about $43,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GOOG shares. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. KeyCorp decreased their price objective on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, Needham & Company LLC cut Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $203.94.

Alphabet Trading Up 1.2%

Shares of GOOG stock opened at $167.43 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.03 trillion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock has a 50 day simple moving average of $160.19 and a 200 day simple moving average of $176.75. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.

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

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.50%. Alphabet’s dividend payout ratio is presently 9.36%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. This represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,824 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total value of $529,302.32. Following the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,815,948.32. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,324 shares of company stock worth $30,153,353 over the last three months. 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.