Bogart Wealth LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Bogart Wealth LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 113.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,069 shares of the information services provider's stock after buying an additional 2,691 shares during the period. Bogart Wealth LLC's holdings in Alphabet were worth $792,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Principia Wealth Advisory LLC increased its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in Alphabet in the 1st quarter worth about $26,000. LSV Asset Management bought a new position in Alphabet in the 4th quarter worth about $27,000. Goodman Advisory Group LLC bought a new position in Alphabet in the 1st quarter worth about $32,000. Finally, WealthTrak Capital Management LLC bought a new position in Alphabet in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Insider Activity

In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 215,443 shares of company stock worth $36,298,548 in the last quarter. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GOOG. Barclays reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. UBS Group reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, KeyCorp reduced their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and six have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $207.13.

Alphabet Trading Up 0.8%

NASDAQ GOOG opened at $182.81 on Tuesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two 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. The stock has a 50 day simple moving average of $171.84 and a two-hundred day simple moving average of $174.68. The stock has a market cap of $2.22 trillion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its 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 business's revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 EPS. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

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.

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