Tounjian Advisory Partners LLC Buys New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Tounjian Advisory Partners LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 52,334 shares of the information services provider’s stock, valued at approximately $8,093,000. Alphabet comprises 1.5% of Tounjian Advisory Partners LLC’s portfolio, making the stock its 12th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Macroview Investment Management LLC raised its position in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 52 shares in the last quarter. Cornerstone Planning Group LLC raised its position in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after purchasing an additional 53 shares in the last quarter. Addison Advisors LLC raised its position in Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares in the last quarter. Burt Wealth Advisors raised its position in Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after purchasing an additional 54 shares in the last quarter. Finally, Perritt Capital Management Inc raised its position in Alphabet by 10.4% during the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $176.09 on Tuesday. The stock has a market capitalization of $2.14 trillion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company’s 50-day moving average is $160.52 and its 200-day moving average is $174.46. 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 $140.53 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted 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. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOGL. Roth Mkm reiterated a “buy” rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Citigroup upped their price target on shares of Alphabet from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 25th. Sanford C. Bernstein upped their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Finally, Truist Financial lowered their price target on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,770 shares of company stock worth $32,036,638 in the last quarter. Insiders own 11.64% of the company’s stock.

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.