BBR Partners LLC Raises Position in Alphabet Inc. (NASDAQ:GOOG)

BBR Partners LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG) by 40.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 59,430 shares of the information services provider’s stock after buying an additional 16,990 shares during the quarter. Alphabet comprises 0.8% of BBR Partners LLC’s holdings, making the stock its 14th largest holding. BBR Partners LLC’s holdings in Alphabet were worth $11,318,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. Weiss Asset Management LP purchased a new position in shares of Alphabet during the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Alphabet during the third quarter valued at approximately $33,000. Noble Wealth Management PBC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $43,000. Finally, FPC Investment Advisory Inc. lifted its holdings in shares of Alphabet by 287.9% during the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 167 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. This represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,316 shares of company stock worth $25,062,887 in the last three months. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Wedbush reissued an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Oppenheimer raised their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Finally, Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Alphabet Stock Up 0.9 %

Shares of GOOG stock opened at $175.75 on Friday. The stock has a market cap of $2.14 trillion, a P/E ratio of 21.83, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52 week low of $134.80 and a 52 week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $189.85 and its two-hundred day simple moving average is $178.00.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.