Alphabet Inc. (NASDAQ:GOOG) is Noesis Capital Mangement Corp's 2nd Largest Position

Key Points

• Noesis Capital Management Corp has increased its stake in Alphabet Inc. by 1.2%, making it the firm's second largest position, worth approximately $28.36 million.
• Recent trades by insiders include Sundar Pichai selling 32,500 shares, reducing his ownership by 1.25%, while Kavitark Ram Shriram sold 18,566 shares, representing a 7.09% decrease in ownership.
• Alphabet's stock has received mixed ratings from analysts, with a current average rating of "Moderate Buy" and a price target of $215.19, reflecting a range of outlooks from sell to strong buy.

Noesis Capital Mangement Corp increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 181,534 shares of the information services provider's stock after buying an additional 2,073 shares during the quarter. Alphabet accounts for about 5.6% of Noesis Capital Mangement Corp's holdings, making the stock its 2nd biggest holding. Noesis Capital Mangement Corp's holdings in Alphabet were worth $28,361,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. ARQ Wealth Advisors LLC increased its stake in shares of Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares during the period. Independence Bank of Kentucky increased its stake in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after buying an additional 1,376 shares during the period. Harvest Investment Services LLC grew its stake in Alphabet by 3.3% during the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after purchasing an additional 138 shares during the period. Fermata Advisors LLC grew its stake in Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the period. Finally, jvl associates llc grew its stake in Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after purchasing an additional 343 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on GOOG shares. Oppenheimer reaffirmed an "outperform" rating and set a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research note on Thursday. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group increased their target price on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Finally, Westpark Capital reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,409 shares of company stock valued at $43,523,710. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 0.9%

GOOG stock traded down $1.77 during midday trading on Monday, reaching $192.31. 11,594,194 shares of the company traded hands, compared to its average volume of 24,189,963. The firm has a market capitalization of $2.33 trillion, a price-to-earnings ratio of 20.49, a P/E/G ratio of 1.31 and a beta of 1.01. The business has a 50 day moving average of $176.86 and a 200-day moving average of $174.38. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.44%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.

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.