Steamboat Capital Partners LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOG)

Steamboat Capital Partners LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,604 shares of the information services provider’s stock after selling 2,140 shares during the period. Alphabet makes up approximately 6.2% of Steamboat Capital Partners LLC’s holdings, making the stock its 3rd largest holding. Steamboat Capital Partners LLC’s holdings in Alphabet were worth $20,111,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Stonebrook Private Inc. grew its stake in shares of Alphabet by 3.9% in the 4th quarter. Stonebrook Private Inc. now owns 10,110 shares of the information services provider’s stock valued at $1,925,000 after purchasing an additional 379 shares during the period. Strategic Wealth Partners Ltd. grew its stake in shares of Alphabet by 0.7% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 28,916 shares of the information services provider’s stock valued at $5,433,000 after purchasing an additional 205 shares during the period. Strive Asset Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $2,555,000. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Alphabet by 24.1% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 2,277 shares of the information services provider’s stock worth $434,000 after acquiring an additional 442 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Alphabet by 27.8% in the 4th quarter. Toronto Dominion Bank now owns 2,901,887 shares of the information services provider’s stock worth $552,630,000 after acquiring an additional 632,099 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on GOOG. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Susquehanna reissued a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Westpark Capital reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, Wedbush reissued an “outperform” rating and issued a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.94.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the sale, the chief executive officer now owns 2,652,696 shares of the company’s stock, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares in the company, valued at $50,376,238.74. The trade was a 9.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,324 shares of company stock valued at $30,153,353 in the last 90 days. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

GOOG stock opened at $167.43 on Friday. The business’s fifty day moving average is $160.19 and its 200-day moving average is $176.75. 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 $2.03 trillion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

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.