Verum Partners LLC Has $829,000 Holdings in Alphabet Inc. (NASDAQ:GOOG)

Verum Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,309 shares of the information services provider’s stock after purchasing an additional 85 shares during the quarter. Verum Partners LLC’s holdings in Alphabet were worth $829,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. LSV Asset Management bought a new position in Alphabet during the 4th quarter worth $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet in the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the fourth quarter worth about $39,000. Noble Wealth Management PBC acquired a new stake in Alphabet in the 4th quarter worth about $43,000. Finally, Sellwood Investment Partners LLC bought a new stake in Alphabet in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock worth $32,036,638 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Up 3.0%

Alphabet stock opened at $174.92 on Friday. The firm has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.73, a PEG 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 has a 50 day moving average price of $161.88 and a two-hundred day moving average price of $176.05.

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, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 earnings per share. Equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 dividend yield of 0.48%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s payout ratio is currently 9.36%.

Wall Street Analysts Forecast Growth

GOOG has been the topic of a number of recent research reports. Citigroup restated a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Susquehanna reiterated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, UBS Group decreased their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $204.88.

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.