Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by AM Investment Strategies LLC

Key Points

• AM Investment Strategies LLC increased its stake in Alphabet Inc. by 2.9%, acquiring 2,435 additional shares during the first quarter, bringing its total holdings to approximately $13.55 million.
• Alphabet reported $2.31 EPS for the last quarter, exceeding analysts' expectations of $2.12, along with a 13.8% year-over-year increase in revenue to $96.43 billion.
• Analysts have mixed ratings on Alphabet, with a consensus rating of "Moderate Buy" and a target price averaging $215.19, reflecting optimism despite some downgrades.

AM Investment Strategies LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,734 shares of the information services provider's stock after buying an additional 2,435 shares during the quarter. Alphabet makes up 3.3% of AM Investment Strategies LLC's portfolio, making the stock its 5th biggest holding. AM Investment Strategies LLC's holdings in Alphabet were worth $13,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. Principia Wealth Advisory LLC grew its holdings in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $26,000. LSV Asset Management bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $27,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet during the 1st quarter worth approximately $32,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Down 0.6%

NASDAQ GOOG traded down $1.19 during trading hours on Monday, hitting $192.90. 15,813,465 shares of the company were exchanged, compared to its average volume of 24,222,178. The company has a 50 day moving average of $176.86 and a two-hundred day moving average of $174.38. The firm has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.31 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 quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Alphabet's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the business posted $1.89 EPS. Equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOOG. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citigroup reiterated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Roth Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Westpark Capital reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, KeyCorp lowered their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was 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 in the company, valued at $456,991,919.84. This represents 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 this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock valued at $43,523,710 over the last three months. Corporate insiders own 12.99% of the company's stock.

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.