Blue Investment Partners LLC Acquires 4,650 Shares of Alphabet Inc. (NASDAQ:GOOG)

Blue Investment Partners LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 150.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,750 shares of the information services provider’s stock after purchasing an additional 4,650 shares during the period. Alphabet comprises about 0.5% of Blue Investment Partners LLC’s investment portfolio, making the stock its 28th biggest position. Blue Investment Partners LLC’s holdings in Alphabet were worth $1,296,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC grew its holdings in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after purchasing an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the 2nd quarter valued at $37,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter worth $40,000. Sanctuary Wealth Management L.L.C. increased its position in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the period. Finally, Slocum Gordon & Co LLP bought a new position in shares of Alphabet during the second quarter valued at about $44,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Pivotal Research raised their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Oppenheimer raised their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank assumed coverage on shares of Alphabet in a report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target on the stock. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Stock Up 1.7 %

Shares of GOOG stock opened at $169.43 on Tuesday. The company’s fifty day simple moving average is $169.30 and its two-hundred day simple moving average is $171.85. Alphabet Inc. has a 52 week low of $129.40 and a 52 week high of $193.31. The stock has a market cap of $2.07 trillion, a P/E ratio of 22.47, a PEG ratio of 1.16 and a beta of 1.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the transaction, the chief executive officer now directly owns 2,137,385 shares in the company, valued at approximately $339,160,251.80. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,795 shares of company stock valued at $34,673,866. 12.99% of the stock is owned by corporate insiders.

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.