Canopy Partners LLC Buys 6,228 Shares of Alphabet Inc. (NASDAQ:GOOG)

Canopy Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 119.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 11,428 shares of the information services provider’s stock after acquiring an additional 6,228 shares during the period. Alphabet makes up approximately 0.8% of Canopy Partners LLC’s holdings, making the stock its 26th largest holding. Canopy Partners LLC’s holdings in Alphabet were worth $2,176,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Fiduciary Advisors Inc. bought a new position in Alphabet in the fourth quarter worth $27,000. Weiss Asset Management LP bought a new stake in Alphabet during the third quarter worth about $25,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 119,797 shares of company stock valued at $21,089,470 over the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Trading Down 3.2 %

Shares of NASDAQ GOOG opened at $147.74 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $143.70 and a twelve month high of $208.70. The stock has a market capitalization of $1.80 trillion, a PE ratio of 18.35, a PEG ratio of 1.34 and a beta of 1.04. The stock has a fifty day simple moving average of $177.04 and a 200-day simple moving average of $178.55.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.54%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Benchmark reiterated a “negative” 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. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.65.

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.