FNY Investment Advisers LLC Has $712,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

FNY Investment Advisers LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 332.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,562 shares of the information services provider’s stock after purchasing an additional 3,506 shares during the period. FNY Investment Advisers LLC’s holdings in Alphabet were worth $712,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares during the period. LSV Asset Management acquired a new position in shares of Alphabet in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet during the fourth quarter valued at approximately $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now owns 7,613 shares in the company, valued at $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,570 shares of company stock worth $32,003,532. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GOOG shares. Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. increased their price objective on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. KeyCorp lowered their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Scotiabank cut their price target on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Finally, UBS Group reduced their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $204.88.

Alphabet Stock Up 1.2%

GOOG stock opened at $177.94 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a 50-day moving average of $165.19 and a two-hundred day moving average of $176.43. The stock has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth 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.

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, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 9.36%.

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.