Alphabet Inc. (NASDAQ:GOOG) Stock Position Raised by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,031 shares of the information services provider's stock after acquiring an additional 2,658 shares during the quarter. Rehmann Capital Advisory Group's holdings in Alphabet were worth $9,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cornerstone Planning Group LLC increased its stake in shares of Alphabet by 22.4% in the first quarter. Cornerstone Planning Group LLC now owns 2,855 shares of the information services provider's stock valued at $450,000 after purchasing an additional 522 shares during the period. Dogwood Wealth Management LLC boosted its stake in shares of Alphabet by 5.0% during the 1st quarter. Dogwood Wealth Management LLC now owns 4,795 shares of the information services provider's stock valued at $749,000 after buying an additional 227 shares during the period. Principal Securities Inc. raised its holdings in shares of Alphabet by 0.7% during the first quarter. Principal Securities Inc. now owns 103,361 shares of the information services provider's stock worth $16,148,000 after acquiring an additional 752 shares in the last quarter. TradeWell Securities LLC. raised its holdings in shares of Alphabet by 10.8% during the first quarter. TradeWell Securities LLC. now owns 12,173 shares of the information services provider's stock worth $1,902,000 after acquiring an additional 1,189 shares in the last quarter. Finally, New Insight Wealth Advisors lifted its stake in shares of Alphabet by 19.1% in the 1st quarter. New Insight Wealth Advisors now owns 3,361 shares of the information services provider's stock valued at $525,000 after purchasing an additional 539 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the sale, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the sale, the chief executive officer owned 2,620,196 shares of the company's stock, valued at $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 over the last ninety days. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.4%

Shares of Alphabet stock opened at $175.16 on Wednesday. The company has a market cap of $2.13 trillion, a P/E ratio of 19.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. The firm has a 50-day simple moving average of $170.54 and a two-hundred day simple moving average of $175.29. 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 Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the company posted $1.89 EPS. The business's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOG. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. KeyCorp cut their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Finally, Citigroup restated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and six have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $206.38.

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.

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