Brendel Financial Advisors LLC Makes New $1.83 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

Brendel Financial Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,726 shares of the information services provider's stock, valued at approximately $1,832,000.

Other large investors have also recently made changes to their positions in the company. LSV Asset Management bought a new position in shares of Alphabet in the fourth quarter valued at $27,000. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. purchased a new position in Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded down $6.25 during midday trading on Friday, hitting $167.73. The company's stock had a trading volume of 55,028,071 shares, compared to its average volume of 20,577,235. The stock has a fifty day moving average price of $166.31 and a 200 day moving average price of $176.41. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. 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 firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 1.18 and a beta of 1.01.

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 (EPS) 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 company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company's quarterly revenue was up 12.0% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GOOG shares. Citigroup restated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Scotiabank cut their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, Westpark Capital restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $204.88.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,070 shares of company stock valued at $37,745,632 over the last quarter. Company insiders own 12.99% of the company's stock.

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.