Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Deepwater Asset Management LLC

Deepwater Asset Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 89,082 shares of the information services provider’s stock after buying an additional 13,927 shares during the period. Alphabet comprises 5.1% of Deepwater Asset Management LLC’s portfolio, making the stock its 13th largest holding. Deepwater Asset Management LLC’s holdings in Alphabet were worth $13,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Veracity Capital LLC raised its holdings in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after buying an additional 1,230 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Alphabet by 11.9% during the 1st quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock worth $16,730,000 after buying an additional 11,646 shares during the last quarter. Strategic Blueprint LLC grew its stake in Alphabet by 36.7% in the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after acquiring an additional 4,044 shares during the last quarter. Finally, Investment Partners LTD. increased its holdings in Alphabet by 5.8% during the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after acquiring an additional 410 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,788 shares of company stock valued at $21,143,403. Company insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent research reports. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. 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. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

Alphabet Trading Up 1.1 %

Shares of Alphabet stock opened at $186.61 on Wednesday. The firm has a market cap of $2.31 trillion, a PE ratio of 28.62, a P/E/G ratio of 1.38 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50. The business’s fifty day moving average is $174.93 and its two-hundred day moving average is $156.20.

Alphabet (NASDAQ:GOOG) last announced its quarterly 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. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed 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 payout ratio is currently 12.27%.

Alphabet Company 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.