Parthenon LLC Acquires 1,215 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Parthenon LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,020 shares of the information services provider’s stock after buying an additional 1,215 shares during the period. Alphabet makes up approximately 3.3% of Parthenon LLC’s investment portfolio, making the stock its 6th biggest position. Parthenon LLC’s holdings in Alphabet were worth $23,750,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. boosted its stake in Alphabet by 2.4% in the third quarter. Kathleen S. Wright Associates Inc. now owns 10,560 shares of the information services provider’s stock valued at $1,382,000 after buying an additional 250 shares in the last quarter. PDS Planning Inc boosted its stake in shares of Alphabet by 2.6% in the 3rd quarter. PDS Planning Inc now owns 27,483 shares of the information services provider’s stock valued at $3,596,000 after purchasing an additional 705 shares in the last quarter. Trinity Street Asset Management LLP grew its holdings in shares of Alphabet by 2.9% during the 3rd quarter. Trinity Street Asset Management LLP now owns 180,769 shares of the information services provider’s stock valued at $23,655,000 after purchasing an additional 5,088 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Alphabet by 1.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,528,818 shares of the information services provider’s stock valued at $330,921,000 after purchasing an additional 45,323 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its position in Alphabet by 2.8% in the third quarter. FAS Wealth Partners Inc. now owns 24,248 shares of the information services provider’s stock valued at $3,173,000 after buying an additional 654 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.1 %

NASDAQ:GOOGL opened at $169.38 on Thursday. Alphabet Inc. has a 1 year low of $107.19 and a 1 year high of $174.71. The stock’s fifty day moving average price is $151.40 and its two-hundred day moving average price is $142.83. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $2.09 trillion, a P/E ratio of 25.98, a P/E/G ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the company posted $1.17 EPS. As a group, analysts expect that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOGL. Redburn Atlantic upped their price target on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Stifel Nicolaus increased their target price on Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. upped their price objective on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Canaccord Genuity Group raised their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, BMO Capital Markets increased their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $190.60.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 300 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 300 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the transaction, the chief executive officer now directly owns 2,355,191 shares in the company, valued at $336,980,728.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 252,629 shares of company stock worth $37,091,240. Corporate insiders own 0.88% of the company’s stock.

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.