Vivaldi Capital Management LP Sells 318 Shares of Alphabet Inc. (NASDAQ:GOOG)

Vivaldi Capital Management LP reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,159 shares of the information services provider’s stock after selling 318 shares during the quarter. Vivaldi Capital Management LP’s holdings in Alphabet were worth $3,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $27,000. LSV Asset Management acquired a new position in shares of Alphabet during the 4th quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Alphabet during the 4th quarter worth about $43,000. 27.26% of the stock is owned by institutional investors.

Alphabet Trading Up 1.2%

Shares of Alphabet stock opened at $167.43 on Monday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock has a market cap of $2.03 trillion, a P/E ratio of 20.80, a P/E/G ratio of 1.34 and a beta of 1.01. 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 business’s 50 day moving average is $160.19 and its 200-day moving average is $176.77.

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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 EPS. The firm’s revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on GOOG. JPMorgan Chase & Co. boosted their target price on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. UBS Group decreased their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Susquehanna reiterated a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $203.94.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. This represents a 29.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,324 shares of company stock worth $30,153,353. Company insiders own 12.99% 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.