Future You Wealth LLC Purchases 1,392 Shares of Alphabet Inc. (NASDAQ:GOOG)

Future You Wealth LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 38.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,022 shares of the information services provider's stock after buying an additional 1,392 shares during the quarter. Alphabet makes up approximately 0.5% of Future You Wealth LLC's portfolio, making the stock its 25th biggest position. Future You Wealth LLC's holdings in Alphabet were worth $785,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its position in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Alphabet by 4.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after acquiring an additional 20,855 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Alphabet during the fourth quarter valued at approximately $1,551,533,000. IMG Wealth Management Inc. bought a new position in shares of Alphabet during the fourth quarter valued at approximately $278,000. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Alphabet by 5.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 8,448 shares of the information services provider's stock valued at $1,609,000 after acquiring an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock traded up $1.15 during trading on Friday, hitting $185.85. 16,537,306 shares of the company's stock traded hands, compared to its average volume of 21,529,048. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a market capitalization of $2.26 trillion, a P/E ratio of 20.71, a PEG ratio of 1.28 and a beta of 1.01. The business has a 50-day simple moving average of $173.39 and a 200-day simple moving average of $174.75.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $1.89 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.45%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insiders Place Their Bets

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 215,843 shares of company stock valued at $37,288,490. Insiders own 12.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Oppenheimer reiterated an "outperform" rating and issued a $220.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, July 9th. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $208.40.

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.