Tandem Investment Partners LLC Takes $1.19 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Tandem Investment Partners LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,235 shares of the information services provider's stock, valued at approximately $1,187,000. Alphabet comprises 1.1% of Tandem Investment Partners LLC's investment portfolio, making the stock its 21st largest position.

Several other institutional investors also recently added to or reduced their stakes in GOOG. GPS Wealth Strategies Group LLC lifted its holdings in Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after buying an additional 1,041 shares during the period. North Forty Two & Co. acquired a new position in shares of Alphabet during the fourth quarter valued at about $281,000. Coldstream Capital Management Inc. increased its holdings in shares of Alphabet by 14.4% during the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock valued at $19,642,000 after acquiring an additional 14,738 shares in the last quarter. Requisite Capital Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth $927,000. Finally, Nordea Investment Management AB lifted its position in Alphabet by 10.9% during the 4th quarter. Nordea Investment Management AB now owns 7,184,399 shares of the information services provider's stock worth $1,384,039,000 after acquiring an additional 704,875 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Scotiabank increased their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Friday, January 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. UBS Group dropped their target price on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday. Finally, Oppenheimer upped their price target on Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $208.71.

Alphabet Trading Up 2.6 %

GOOG stock traded up $4.03 during mid-day trading on Friday, hitting $159.40. 22,564,215 shares of the company were exchanged, compared to its average volume of 19,411,412. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. 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 has a fifty day simple moving average of $170.50 and a 200-day simple moving average of $177.89. The firm has a market capitalization of $1.94 trillion, a P/E ratio of 19.80, a PEG ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction 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. The trade was a 1.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 2,834 shares of the business's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares of the company's stock, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock worth $21,089,470 in the last quarter. 12.99% of the stock is owned by company insiders.

About Alphabet

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.