Tandem Investment Partners LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Tandem Investment Partners LLC purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,235 shares of the information services provider’s stock, valued at approximately $1,187,000. Alphabet accounts for about 1.1% of Tandem Investment Partners LLC’s investment portfolio, making the stock its 21st biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Fiduciary Advisors Inc. acquired a new stake in Alphabet during the 4th quarter worth about $27,000. Weiss Asset Management LP acquired a new position in shares of Alphabet in the third quarter worth $25,000. WealthTrak Capital Management LLC acquired a new position in Alphabet in the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet in the fourth quarter worth approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock worth $21,089,470 in the last ninety days. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the topic of several analyst reports. Wedbush reissued an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Westpark Capital started coverage on Alphabet in a research note on Tuesday, April 1st. They issued a “buy” rating and a $210.00 price objective on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Rosenblatt Securities restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $208.65.

Alphabet Stock Up 1.0 %

Shares of NASDAQ GOOG opened at $149.24 on Tuesday. The firm’s fifty day moving average is $176.15 and its 200 day moving average is $178.45. Alphabet Inc. has a 52 week low of $142.66 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 has a market cap of $1.82 trillion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released 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%. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

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

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.