Geneos Wealth Management Inc. Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Geneos Wealth Management Inc. increased its stake in Alphabet Inc. by acquiring an additional 9,345 shares, bringing its total ownership to 84,539 shares, valued at approximately $13.2 million.
• Alphabet's recent quarterly earnings reported $2.31 earnings per share, surpassing estimates of $2.12, while revenue reached $96.43 billion, reflecting a 13.8% increase year-over-year.
• The company announced a quarterly dividend of $0.21 per share, with record shareholders eligible for payment on September 15th, representing a yield of 0.43%.

Geneos Wealth Management Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 84,539 shares of the information services provider's stock after acquiring an additional 9,345 shares during the period. Geneos Wealth Management Inc.'s holdings in Alphabet were worth $13,208,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after purchasing an additional 20,855 shares during the period. Partners in Financial Planning acquired a new stake in Alphabet in the fourth quarter worth $491,000. Hazlett Burt & Watson Inc. grew its holdings in Alphabet by 11.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 8,401 shares of the information services provider's stock worth $1,598,000 after purchasing an additional 846 shares during the period. Finally, FSB Premier Wealth Management Inc. grew its holdings in Alphabet by 4.6% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 16,715 shares of the information services provider's stock worth $3,183,000 after purchasing an additional 734 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded down $3.02 during midday trading on Friday, hitting $189.84. The company's stock had a trading volume of 15,627,341 shares, compared to its average volume of 24,289,643. The stock has a fifty day moving average price of $178.96 and a 200 day moving average price of $174.70. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 1.31 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company's quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Oppenheimer restated an "outperform" rating and issued a $235.00 price target (up from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Raymond James Financial restated an "outperform" rating and issued a $210.00 price target (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Citigroup reiterated a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Susquehanna reiterated a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Westpark Capital reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% 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 400 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,399 shares of company stock valued at $43,525,794. Company insiders own 12.99% of the company's stock.

Alphabet Profile

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.