Waycross Partners LLC Invests $2.03 Million in Alphabet Inc. (NASDAQ:GOOG)

Waycross Partners LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,500 shares of the information services provider’s stock, valued at approximately $2,026,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOG. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet during the 3rd quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $28,000. Buck Wealth Strategies LLC acquired a new position in shares of Alphabet during the 3rd quarter valued at $32,000. Finally, Barometer Capital Management Inc. acquired a new position in shares of Alphabet during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Raymond James boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $165.67.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock worth $40,382,765 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

NASDAQ GOOG opened at $165.57 on Thursday. Alphabet Inc. has a 1 year low of $104.50 and a 1 year high of $176.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.23 and a beta of 1.02. The company has a fifty day moving average price of $150.52 and a 200-day moving average price of $143.31.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the prior year, the business posted $1.17 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 7.66 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, June 10th.

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.