8,874 Shares in Alphabet Inc. (NASDAQ:GOOGL) Acquired by Barnes Dennig Private Wealth Management LLC

Barnes Dennig Private Wealth Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,874 shares of the information services provider's stock, valued at approximately $1,372,000. Alphabet makes up approximately 2.1% of Barnes Dennig Private Wealth Management LLC's investment portfolio, making the stock its 17th largest position.

A number of other institutional investors also recently made changes to their positions in GOOGL. Anderson Financial Strategies LLC bought a new position in Alphabet during the 4th quarter worth $49,000. EQ Wealth Advisors LLC bought a new position in shares of Alphabet in the first quarter worth $49,000. Navigoe LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $51,000. Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $53,000. Finally, Campbell Capital Management Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $57,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on 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 directly owned 6,813 shares of the company's stock, 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. Over the last three months, insiders sold 215,643 shares of company stock valued at $36,330,928. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

GOOGL has been the subject of a number of recent analyst reports. Westpark Capital reiterated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. UBS Group set a $195.00 price target on Alphabet in a report on Friday, April 25th. Mizuho reduced their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. KeyCorp raised their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Citigroup reissued a "buy" rating and issued a $203.00 price objective (up from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $199.95.

Alphabet Stock Up 0.2%

GOOGL stock opened at $179.08 on Monday. The stock's 50 day simple moving average is $168.70 and its 200 day simple moving average is $173.77. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $2.17 trillion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00.

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

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

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.

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