FSB Premier Wealth Management Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,412 shares of the information services provider's stock after acquiring an additional 2,697 shares during the period. Alphabet makes up about 1.2% of FSB Premier Wealth Management Inc.'s investment portfolio, making the stock its 20th largest holding. FSB Premier Wealth Management Inc.'s holdings in Alphabet were worth $3,033,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC increased 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 worth $26,000 after buying an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new position in shares of Alphabet in the first quarter worth $26,000. LSV Asset Management acquired a new position in Alphabet in the fourth quarter valued at about $27,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the first quarter worth about $32,000. Finally, Graybill Wealth Management LTD. acquired a new position in shares of Alphabet in the 1st quarter valued at approximately $44,000. 27.26% of the stock is owned by institutional investors.
Alphabet Stock Up 0.5%
Shares of NASDAQ GOOG traded up $1.01 during mid-day trading on Wednesday, reaching $197.44. 21,048,793 shares of the company's stock traded hands, compared to its average volume of 24,257,904. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50-day simple moving average of $178.54 and a 200 day simple moving average of $174.69. The stock has a market cap of $2.40 trillion, a P/E ratio of 21.03, a PEG ratio of 1.30 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet's payout ratio is 8.95%.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Pivotal Research lifted their price target on Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $215.19.
Get Our Latest Stock Analysis on GOOG
Insider Buying and Selling
In other Alphabet news, Director John L. Hennessy sold 400 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the transaction, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 249,298 shares of company stock worth $43,505,967. 12.99% of the stock is owned by corporate insiders.
Alphabet Company Profile
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Free Report)
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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