Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,641 shares of the information services provider's stock after acquiring an additional 3,968 shares during the period. Alphabet comprises about 0.7% of Hanson & Doremus Investment Management's investment portfolio, making the stock its 23rd biggest holding. Hanson & Doremus Investment Management's holdings in Alphabet were worth $5,100,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the last quarter. LSV Asset Management bought a new position in shares of Alphabet during the fourth quarter worth about $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $175.88 on Monday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.13 trillion, a P/E ratio of 21.85, a PEG ratio of 1.34 and a beta of 1.01. The firm's 50 day moving average is $164.57 and its two-hundred day moving average is $176.38.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business earned $1.89 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Oppenheimer raised their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. KeyCorp cut their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $204.88.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the transaction, the chief executive officer now owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,570 shares of company stock worth $32,003,532 over the last quarter. 12.99% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.