Continuum Advisory LLC Purchases 2,730 Shares of Alphabet Inc. (NASDAQ:GOOG)

Continuum Advisory LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,952 shares of the information services provider's stock after buying an additional 2,730 shares during the period. Continuum Advisory LLC's holdings in Alphabet were worth $2,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. CV Advisors LLC boosted its stake in shares of Alphabet by 2.4% in the first quarter. CV Advisors LLC now owns 11,669 shares of the information services provider's stock valued at $1,789,000 after buying an additional 268 shares during the period. Brown Lisle Cummings Inc. lifted its position in shares of Alphabet by 14.7% during the 1st quarter. Brown Lisle Cummings Inc. now owns 31,634 shares of the information services provider's stock valued at $4,942,000 after acquiring an additional 4,062 shares during the period. Spinnaker Investment Group LLC lifted its position in shares of Alphabet by 14.6% during the 1st quarter. Spinnaker Investment Group LLC now owns 2,588 shares of the information services provider's stock valued at $404,000 after acquiring an additional 329 shares during the period. HWG Holdings LP acquired a new stake in shares of Alphabet during the 1st quarter worth $58,000. Finally, Whalen Wealth Management Inc. raised its stake in Alphabet by 37.2% in the first quarter. Whalen Wealth Management Inc. now owns 15,832 shares of the information services provider's stock valued at $2,473,000 after purchasing an additional 4,291 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Up 2.4%

Alphabet stock traded up $4.08 during mid-day trading on Wednesday, reaching $171.82. The stock had a trading volume of 18,366,175 shares, compared to its average volume of 20,675,467. The firm has a market capitalization of $2.09 trillion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.17 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock's 50-day simple moving average is $166.58 and its 200-day simple moving average is $176.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

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 business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm posted $1.89 EPS. Alphabet's revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet's payout ratio is presently 9.36%.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 228,070 shares of company stock valued at $37,745,632 over the last three months. Corporate insiders own 12.99% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. KeyCorp reduced their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Scotiabank lowered their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Finally, Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $204.88.

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.