Sheets Smith Investment Management Makes New $1.46 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

Sheets Smith Investment Management purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,640 shares of the information services provider's stock, valued at approximately $1,455,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOG. Jackson Thornton Wealth Management LLC grew its position in Alphabet by 115.2% during the 4th quarter. Jackson Thornton Wealth Management LLC now owns 4,209 shares of the information services provider's stock worth $802,000 after purchasing an additional 2,253 shares during the last quarter. Angeles Investment Advisors LLC grew its holdings in shares of Alphabet by 17.4% during the fourth quarter. Angeles Investment Advisors LLC now owns 4,631 shares of the information services provider's stock worth $882,000 after buying an additional 688 shares during the last quarter. Clune & Associates LTD. acquired a new position in Alphabet in the 4th quarter valued at about $784,000. Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet during the 4th quarter valued at approximately $39,000. Finally, Crowley Wealth Management Inc. purchased a new stake in Alphabet during the 4th quarter valued at approximately $1,406,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Price Performance

Alphabet stock traded up $2.86 during trading hours on Tuesday, hitting $172.79. The stock had a trading volume of 13,791,642 shares, compared to its average volume of 17,844,933. The stock has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $148.20 and a 1-year high of $208.70. The stock's fifty day moving average is $183.93 and its two-hundred day moving average is $178.30.

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Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. As a group, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet's dividend payout ratio (DPR) is 9.94%.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent research reports. Needham & Company LLC reissued a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Finally, Benchmark reiterated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $209.13.

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 1,368 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company's stock, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 in the last ninety days. Insiders own 12.99% of the company's stock.

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.