Financial Life Planners Invests $260,000 in Alphabet Inc. (NASDAQ:GOOG)

Financial Life Planners purchased a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,665 shares of the information services provider's stock, valued at approximately $260,000.

Other institutional investors have also made changes to their positions in the company. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the 1st 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 during the period. LSV Asset Management bought a new position in shares of Alphabet in the fourth quarter worth $27,000. WealthTrak Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of GOOG stock opened at $171.49 on Thursday. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.18 and a beta of 1.01. 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 business's 50-day moving average price is $166.90 and its 200-day moving average price is $176.24. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business earned $1.89 EPS. The firm's quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the transaction, the chief executive officer now owns 2,555,196 shares of the company's stock, valued at $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 216,306 shares of company stock worth $35,782,927. Company insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. upped their price objective on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $204.88.

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.

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