Yukon Wealth Management Inc. Purchases Shares of 21,496 Alphabet Inc. (NASDAQ:GOOG)

Yukon Wealth Management Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 21,496 shares of the information services provider's stock, valued at approximately $3,358,000. Alphabet accounts for 1.4% of Yukon Wealth Management Inc.'s holdings, making the stock its 19th biggest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Alphabet in the fourth quarter valued at about $5,166,070,000. GAMMA Investing LLC raised its position in Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after buying an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Alphabet in the 4th quarter valued at approximately $1,551,533,000. Northern Trust Corp lifted its stake in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC boosted its position in Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after acquiring an additional 7,221,746 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded up $2.85 during trading on Wednesday, reaching $179.76. 19,297,508 shares of the stock traded hands, compared to its average volume of 21,124,652. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 1.25 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 50-day moving average of $168.84 and a 200-day moving average of $175.81.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's payout ratio is 9.36%.

Wall Street Analyst Weigh In

GOOG has been the topic of a number of recent research reports. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. UBS Group cut their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Scotiabank decreased their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.38.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director owned 255,400 shares of the company's stock, valued at approximately $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 183,143 shares of company stock valued at $30,529,028. Corporate insiders own 12.99% of the company's stock.

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.