Callahan Advisors LLC Purchases 7,310 Shares of Alphabet Inc. (NASDAQ:GOOG)

Callahan Advisors LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,152 shares of the information services provider's stock after purchasing an additional 7,310 shares during the quarter. Alphabet comprises 3.9% of Callahan Advisors LLC's holdings, making the stock its 3rd largest holding. Callahan Advisors LLC's holdings in Alphabet were worth $41,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management purchased a new position in shares of Alphabet in the fourth quarter worth about $27,000. Principia Wealth Advisory LLC raised its position in 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 acquiring an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in Alphabet during the first quarter valued at approximately $26,000. WealthTrak Capital Management LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Alphabet during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 1.5%

Shares of GOOG traded up $2.61 during mid-day trading on Friday, reaching $181.31. The company's stock had a trading volume of 23,949,486 shares, compared to its average volume of 21,422,256. The stock has a market cap of $2.20 trillion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company's 50 day moving average is $171.19 and its 200 day moving average is $175.18.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping 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 analysts' expectations of $89.30 billion. During the same period last year, the firm earned $1.89 EPS. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. Equities analysts anticipate 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 issued a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Wall Street Analyst Weigh In

GOOG has been the topic of several research analyst reports. Roth Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on Alphabet from $195.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday. BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, KeyCorp lowered their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Three 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $207.13.

Insider Activity

In related 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 directly owned 6,813 shares of the company's stock, 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 at this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 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 $1,575,000.00. Following the completion of the transaction, the director directly owned 255,400 shares of the company's stock, valued at $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet 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.