Versant Capital Management Inc Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Versant Capital Management Inc raised its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,265 shares of the information services provider’s stock after purchasing an additional 151 shares during the quarter. Versant Capital Management Inc’s holdings in Alphabet were worth $649,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Intact Investment Management Inc. lifted its position in shares of Alphabet by 15.3% during the third quarter. Intact Investment Management Inc. now owns 6,480 shares of the information services provider’s stock worth $854,000 after purchasing an additional 860 shares in the last quarter. WestHill Financial Advisors Inc. lifted its holdings in Alphabet by 3.2% in the 3rd quarter. WestHill Financial Advisors Inc. now owns 2,486 shares of the information services provider’s stock worth $328,000 after buying an additional 78 shares in the last quarter. Glenview Trust co boosted its position in Alphabet by 0.5% in the 3rd quarter. Glenview Trust co now owns 98,928 shares of the information services provider’s stock valued at $13,044,000 after buying an additional 508 shares during the last quarter. Peachtree Investment Partners LLC increased its position in shares of Alphabet by 155.7% during the third quarter. Peachtree Investment Partners LLC now owns 2,956 shares of the information services provider’s stock worth $390,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Stokes Family Office LLC lifted its stake in shares of Alphabet by 20.0% in the third quarter. Stokes Family Office LLC now owns 113,662 shares of the information services provider’s stock worth $14,986,000 after acquiring an additional 18,956 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at approximately $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now owns 48,717 shares in the company, valued at $7,365,523.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,958 shares of company stock valued at $22,383,553. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GOOG. Stifel Nicolaus raised their price objective 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 restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $165.67.

Check Out Our Latest Analysis on Alphabet

Alphabet Stock Performance

Shares of GOOG opened at $176.45 on Wednesday. The business’s fifty day moving average price is $170.48 and its 200 day moving average price is $153.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $182.08. The stock has a market capitalization of $2.18 trillion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the business posted $1.17 EPS. The business’s revenue was up 15.4% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Alphabet Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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