Barnes Dennig Private Wealth Management LLC Invests $1.37 Million in Alphabet Inc. (NASDAQ:GOOGL)

Barnes Dennig Private Wealth Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,874 shares of the information services provider's stock, valued at approximately $1,372,000. Alphabet accounts for 2.1% of Barnes Dennig Private Wealth Management LLC's investment portfolio, making the stock its 17th biggest position.

A number of other institutional investors also recently bought and sold shares of the business. Koshinski Asset Management Inc. grew its position in Alphabet by 0.4% during the first quarter. Koshinski Asset Management Inc. now owns 33,046 shares of the information services provider's stock worth $5,110,000 after buying an additional 124 shares during the period. Morton Brown Family Wealth LLC lifted its holdings in shares of Alphabet by 53.0% in the first quarter. Morton Brown Family Wealth LLC now owns 583 shares of the information services provider's stock valued at $90,000 after purchasing an additional 202 shares in the last quarter. Altus Wealth Group LLC lifted its holdings in shares of Alphabet by 4.9% in the first quarter. Altus Wealth Group LLC now owns 14,412 shares of the information services provider's stock valued at $2,229,000 after purchasing an additional 670 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Alphabet by 0.9% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 20,507 shares of the information services provider's stock valued at $3,171,000 after purchasing an additional 185 shares in the last quarter. Finally, Red Door Wealth Management LLC lifted its holdings in shares of Alphabet by 0.7% in the first quarter. Red Door Wealth Management LLC now owns 20,594 shares of the information services provider's stock valued at $3,185,000 after purchasing an additional 151 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.0%

Shares of NASDAQ:GOOGL traded down $1.74 during midday trading on Tuesday, hitting $175.05. 4,050,790 shares of the stock were exchanged, compared to its average volume of 31,501,771. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The business's fifty day simple moving average is $169.03 and its two-hundred day simple moving average is $173.67. The company has a market capitalization of $2.12 trillion, a PE ratio of 19.51, a P/E/G ratio of 1.26 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JMP Securities raised shares of Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target on the stock in a report on Friday, June 27th. KeyCorp upped their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Susquehanna reduced their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Royal Bank Of Canada reissued an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $200.00.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 over the last three months. Corporate insiders own 11.55% of the company's stock.

Alphabet 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.