Interchange Capital Partners LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Interchange Capital Partners LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,659 shares of the information services provider’s stock after acquiring an additional 147 shares during the quarter. Interchange Capital Partners LLC’s holdings in Alphabet were worth $405,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Veracity Capital LLC grew its stake in shares of Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares in the last quarter. Independence Bank of Kentucky grew its stake in shares of Alphabet by 25.3% in the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after buying an additional 1,230 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Alphabet by 11.9% in the first quarter. Park Avenue Securities LLC now owns 109,878 shares of the information services provider’s stock valued at $16,730,000 after buying an additional 11,646 shares in the last quarter. Strategic Blueprint LLC grew its stake in Alphabet by 36.7% during the 4th quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock worth $2,123,000 after purchasing an additional 4,044 shares in the last quarter. Finally, Investment Partners LTD. grew its stake in Alphabet by 5.8% during the 4th quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock worth $1,049,000 after purchasing an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold 124,488 shares of company stock valued at $21,954,455 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG traded down $3.20 on Thursday, hitting $179.42. 10,184,948 shares of the company’s stock were exchanged, compared to its average volume of 20,487,238. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm’s 50-day moving average price is $180.04 and its two-hundred day moving average price is $160.11. Alphabet Inc. has a fifty-two week low of $118.68 and a fifty-two week high of $193.31. The firm has a market cap of $2.22 trillion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 1.39 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the firm posted $1.17 EPS. The company’s revenue was up 15.4% compared to the same quarter last year. On average, research analysts expect that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GOOG shares. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a report on Friday, June 28th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a report on Tuesday. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $174.38.

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.