Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Increased by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 45.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,432 shares of the information services provider's stock after acquiring an additional 1,685 shares during the quarter. Gateway Wealth Partners LLC's holdings in Alphabet were worth $849,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principia Wealth Advisory LLC grew 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 worth $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at $26,000. LSV Asset Management bought a new stake in shares of Alphabet in the 4th quarter valued at $27,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet in the 1st quarter valued at $32,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at $38,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at $447,712,890.52. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction dated 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 owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. KeyCorp decreased their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Barclays restated a "buy" rating on shares of Alphabet in a research report on Wednesday. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, UBS Group reissued a "buy" rating on shares of Alphabet in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and six have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $207.13.

Alphabet Stock Performance

Alphabet stock traded up $2.61 during mid-day trading on Friday, reaching $181.31. 23,949,486 shares of the company were exchanged, compared to its average volume of 21,422,256. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm's 50-day simple moving average is $171.19 and its two-hundred day simple moving average is $175.18. The firm has a market cap of $2.20 trillion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

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

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

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.