Sunbeam Capital Management LLC Invests $1.44 Million in Alphabet Inc. (NASDAQ:GOOG)

Sunbeam Capital Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,549 shares of the information services provider’s stock, valued at approximately $1,438,000. Alphabet accounts for 1.3% of Sunbeam Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding.

Several other hedge funds also recently made changes to their positions in GOOG. FMR LLC lifted its holdings in shares of Alphabet by 2.8% during the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after purchasing an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC increased its position in Alphabet by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock valued at $19,894,651,000 after buying an additional 1,219,606 shares in the last quarter. Capital International Investors raised its stake in Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after buying an additional 5,758,244 shares during the last quarter. Northern Trust Corp raised its stake in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after acquiring an additional 294,556 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $169.59 on Friday. The company has a market cap of $2.06 trillion, a P/E ratio of 21.07, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm’s fifty day moving average is $160.47 and its two-hundred day moving average is $176.60.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data 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 firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.89 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend 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 (DPR) is currently 9.36%.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,654 shares of company stock valued at $26,793,380 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GOOG. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Scotiabank cut their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer upped their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Finally, Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $203.94.

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.