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Balboa Wealth Partners Buys 1,575 Shares of Alphabet Inc. (NASDAQ:GOOG)

Alphabet logo with Computer and Technology background

Balboa Wealth Partners boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 46,644 shares of the information services provider's stock after acquiring an additional 1,575 shares during the period. Alphabet accounts for about 1.8% of Balboa Wealth Partners' holdings, making the stock its 11th biggest position. Balboa Wealth Partners' holdings in Alphabet were worth $7,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Berry Wealth Group LP bought a new position in Alphabet in the first quarter worth approximately $202,000. G2 Capital Management LLC OH boosted its holdings in Alphabet by 0.7% in the first quarter. G2 Capital Management LLC OH now owns 16,359 shares of the information services provider's stock worth $2,556,000 after acquiring an additional 115 shares in the last quarter. Retirement Guys Formula LLC raised its stake in shares of Alphabet by 16.2% in the first quarter. Retirement Guys Formula LLC now owns 10,352 shares of the information services provider's stock worth $1,617,000 after purchasing an additional 1,446 shares during the last quarter. Sheets Smith Wealth Management raised its stake in shares of Alphabet by 8.4% in the first quarter. Sheets Smith Wealth Management now owns 122,271 shares of the information services provider's stock worth $19,102,000 after purchasing an additional 9,514 shares during the last quarter. Finally, Sava Infond d.o.o. raised its stake in shares of Alphabet by 88.7% in the first quarter. Sava Infond d.o.o. now owns 4,255 shares of the information services provider's stock worth $665,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the sale, the chief executive officer now directly owns 2,555,196 shares of the company's stock, valued at $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director now directly owns 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 216,195 shares of company stock valued at $35,764,898 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOG traded up $3.84 on Friday, reaching $178.27. 73,956,281 shares of the company's stock traded hands, compared to its average volume of 20,984,165. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.16 trillion, a PE ratio of 19.87, a PEG ratio of 1.26 and a beta of 1.01. The stock's 50 day simple moving average is $167.82 and its two-hundred day simple moving average is $176.02. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results 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 return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. Alphabet's revenue was up 12.0% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GOOG shares. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Citigroup reissued a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and six have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.88.

Read Our Latest Report on GOOG

About Alphabet

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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