Alphabet Inc. $GOOG Shares Acquired by McIlrath & Eck LLC

Key Points

• McIlrath & Eck LLC increased its stake in Alphabet Inc. shares by 11.3% during the 1st quarter, owning a total of 15,891 shares worth approximately $2,483,000.
• Alphabet's insider sales included John Kent Walker selling 23,820 shares at $194.70 each, representing a 35.65% decrease in his position, while corporate insiders have sold 254,710 shares in the past 90 days.
• The company recently announced a quarterly dividend of $0.21 per share, with an upcoming payment date of September 15th and an annualized yield of 0.4%.

McIlrath & Eck LLC raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,891 shares of the information services provider's stock after purchasing an additional 1,608 shares during the period. McIlrath & Eck LLC's holdings in Alphabet were worth $2,483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 9.9% in the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Alphabet by 2.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock valued at $6,494,655,000 after purchasing an additional 769,335 shares in the last quarter. Deutsche Bank AG lifted its holdings in Alphabet by 5.4% in the 1st quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider's stock valued at $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Alphabet by 2.2% in the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider's stock valued at $3,183,979,000 after purchasing an additional 440,526 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Trading Up 0.5%

NASDAQ GOOG traded up $1.22 during trading on Thursday, hitting $240.78. The stock had a trading volume of 21,272,040 shares, compared to its average volume of 23,996,289. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $2.91 trillion, a PE ratio of 25.64, a PEG ratio of 1.61 and a beta of 1.01. The firm has a 50 day moving average price of $200.24 and a 200 day moving average price of $177.98. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $242.57.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio is 8.95%.

Wall Street Analyst Weigh In

GOOG has been the topic of several analyst reports. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Oppenheimer reiterated an "outperform" rating and set a $270.00 price target (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Cowen reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. lifted their price target on Alphabet from $232.00 to $260.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $227.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 over the last three months. 12.99% of the stock is currently owned by company insiders.

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.