Diversify Wealth Management LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Diversify Wealth Management LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,681 shares of the information services provider's stock after acquiring an additional 2,523 shares during the quarter. Diversify Wealth Management LLC's holdings in Alphabet were worth $8,051,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GOOG. Hutchinson Capital Management CA boosted its stake in Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock valued at $677,000 after acquiring an additional 54 shares in the last quarter. Retirement Planning Co of New England Inc. increased its stake in shares of Alphabet by 0.4% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock worth $3,043,000 after purchasing an additional 56 shares in the last quarter. Concentrum Wealth Management grew its stake in Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after acquiring an additional 57 shares during the period. JDM Financial Group LLC boosted its holdings in shares of Alphabet by 10.6% in the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after purchasing an additional 57 shares during the last quarter. Finally, Kidder Stephen W boosted its holdings in shares of Alphabet by 1.6% in the 4th quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock valued at $687,000 after purchasing an additional 58 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares of the company's stock, valued at $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director directly owned 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,643 shares of company stock valued at $36,330,928. 12.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GOOG shares. KeyCorp reduced their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. 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 assigned a strong buy rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $207.13.

Alphabet Price Performance

GOOG stock traded up $2.61 during midday trading on Friday, reaching $181.31. 23,949,486 shares of the stock were exchanged, compared to its average volume of 21,422,256. The stock has a market capitalization of $2.20 trillion, a PE ratio of 20.21, a P/E/G ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a fifty day moving average price of $171.19 and a 200 day moving average price of $175.18.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 EPS. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

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.