Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 29.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,430 shares of the information services provider's stock after buying an additional 1,466 shares during the quarter. Alphabet comprises about 2.0% of Mowery & Schoenfeld Wealth Management LLC's holdings, making the stock its 10th largest position. Mowery & Schoenfeld Wealth Management LLC's holdings in Alphabet were worth $1,005,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Brighton Jones LLC lifted its stake in shares of Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of Alphabet by 4.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after acquiring an additional 20,855 shares during the period. 1620 Investment Advisors Inc. grew its holdings in shares of Alphabet by 32.9% during the 4th quarter. 1620 Investment Advisors Inc. now owns 343 shares of the information services provider's stock worth $65,000 after acquiring an additional 85 shares during the period. Washington Trust Bank grew its holdings in shares of Alphabet by 6.5% during the 4th quarter. Washington Trust Bank now owns 8,539 shares of the information services provider's stock worth $1,626,000 after acquiring an additional 524 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in shares of Alphabet during the 4th quarter worth approximately $2,427,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the transaction, the director owned 255,400 shares of the company's stock, valued at $44,695,000. This trade represents a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,843 shares of company stock worth $37,288,490. Insiders own 12.99% of the company's stock.
Alphabet Stock Up 0.7%
Shares of NASDAQ GOOG opened at $185.94 on Friday. 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 firm has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.29 and a beta of 1.01. The stock has a 50 day moving average price of $174.02 and a 200 day moving average price of $174.61. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.
Alphabet (NASDAQ:GOOG - 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 analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during 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%. Alphabet's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.89 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Barclays restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citigroup restated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $208.40.
Read Our Latest Analysis on GOOG
About Alphabet
(
Free Report)
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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