Beam Wealth Advisors Inc. Invests $1.57 Million in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Beam Wealth Advisors Inc. has invested approximately $1.57 million to acquire 10,039 shares in Alphabet Inc. during Q1.
• Alphabet reported strong financial performance, with a quarterly earnings per share of $2.31, surpassing the expected $2.12, and revenues of $96.43 billion.
• The company is set to pay a quarterly dividend of $0.21 per share on September 15th, yielding 0.4% annually.

Beam Wealth Advisors Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,039 shares of the information services provider's stock, valued at approximately $1,568,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Capital International Investors increased its stake in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Capital Research Global Investors lifted its stake in Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alphabet by 2.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock worth $6,494,655,000 after purchasing an additional 769,335 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 0.2%

NASDAQ GOOG opened at $197.28 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.31 and a beta of 1.02. The company has a 50 day moving average of $181.28 and a 200-day moving average of $174.68. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced 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 analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 400 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director directly owned 6,013 shares in the company, valued at $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,219 shares of company stock valued at $49,474,273. Corporate insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group upped their price objective on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Westpark Capital restated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

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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