Cable Hill Partners LLC Buys 624 Shares of Alphabet Inc. (NASDAQ:GOOG)

Cable Hill Partners LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.8% during the first quarter, Holdings Channel reports. The institutional investor owned 9,781 shares of the information services provider’s stock after purchasing an additional 624 shares during the quarter. Alphabet comprises 0.2% of Cable Hill Partners LLC’s portfolio, making the stock its 29th biggest holding. Cable Hill Partners LLC’s holdings in Alphabet were worth $1,574,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. LSV Asset Management bought a new stake in shares of Alphabet in the fourth quarter worth about $27,000. Principia Wealth Advisory LLC grew its stake in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the first quarter worth about $26,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth about $38,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet in the fourth quarter worth about $39,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

GOOG stock opened at $183.10 on Wednesday. The stock has a market capitalization of $2.22 trillion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $172.19 and its 200 day simple moving average is $174.74. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG) last announced its 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 business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 EPS. As a group, research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. Alphabet’s payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Citizens Jmp upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Thursday, June 26th. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Cowen restated a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and six have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $207.13.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares of the company’s stock, valued at $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 182,943 shares of company stock worth $31,223,348. 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.