Goelzer Investment Management Inc. Has $15.19 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Goelzer Investment Management Inc. raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 97,244 shares of the information services provider's stock after acquiring an additional 2,132 shares during the period. Alphabet comprises approximately 0.9% of Goelzer Investment Management Inc.'s holdings, making the stock its 14th largest holding. Goelzer Investment Management Inc.'s holdings in Alphabet were worth $15,192,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GOOG. Principia Wealth Advisory LLC grew its position in 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 acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the 1st quarter worth approximately $26,000. LSV Asset Management bought a new stake in Alphabet during the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC bought a new stake in Alphabet during the 1st quarter worth approximately $32,000. Finally, WealthTrak Capital Management LLC bought a new stake in Alphabet during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Trading Up 0.3%

Alphabet stock opened at $180.22 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. 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 stock has a market capitalization of $2.19 trillion, a P/E ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.01. The stock has a 50-day simple moving average of $169.65 and a 200 day simple moving average of $175.71.

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, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. The business's revenue was up 12.0% on a year-over-year basis. Analysts expect that Alphabet Inc. will post 8.89 earnings per share 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 given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

A number of research analysts have commented on GOOG shares. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, UBS Group reduced their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and six have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $206.38.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly 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 Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 over the last three months. Corporate 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.

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