Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Elmwood Wealth Management Inc.

Elmwood Wealth Management Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,321 shares of the information services provider's stock after buying an additional 1,439 shares during the quarter. Elmwood Wealth Management Inc.'s holdings in Alphabet were worth $1,769,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GOOG. Norges Bank purchased a new position in Alphabet during the 4th quarter worth approximately $5,166,070,000. GAMMA Investing LLC raised its position in Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Alphabet during the 4th quarter worth approximately $1,551,533,000. Northern Trust Corp raised its position in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, GQG Partners LLC raised its position in Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 215,643 shares of company stock valued at $36,330,928. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Alphabet stock traded up $0.46 during trading on Friday, reaching $180.22. The company had a trading volume of 13,287,389 shares, compared to its average volume of 21,210,158. The firm's 50-day simple moving average is $169.97 and its 200 day simple moving average is $175.40. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The firm has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. 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 released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the company earned $1.89 EPS. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Finally, Scotiabank decreased their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and six have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $206.38.

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.