Apollon Wealth Management LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Apollon Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 190,442 shares of the information services provider's stock after buying an additional 22,427 shares during the quarter. Apollon Wealth Management LLC's holdings in Alphabet were worth $29,753,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Alphabet in the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC lifted its position in Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Alphabet during the 4th quarter valued at about $1,551,533,000. Northern Trust Corp increased its holdings in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC raised its stake in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Barclays reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and six have given a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $207.13.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,443 shares of company stock valued at $36,298,548. Corporate insiders own 12.99% of the company's stock.

Alphabet Price Performance

GOOG traded up $1.50 on Monday, reaching $182.81. The company had a trading volume of 20,968,875 shares, compared to its average volume of 24,056,625. The business has a 50 day simple moving average of $171.50 and a 200 day simple moving average of $174.76. The company has a market cap of $2.22 trillion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 1.27 and a beta of 1.01. 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 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company's revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS 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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Alphabet Company 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.