Hartmann Taylor Wealth Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,744 shares of the information services provider's stock, valued at approximately $272,000.
Other large investors have also recently bought and sold shares of the company. Ethos Financial Group LLC increased its stake in Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after purchasing an additional 53 shares in the last quarter. Hutchinson Capital Management CA increased its stake in Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock valued at $677,000 after purchasing an additional 54 shares in the last quarter. M. Kulyk & Associates LLC increased its stake in Alphabet by 0.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock valued at $1,227,000 after purchasing an additional 56 shares in the last quarter. Retirement Planning Co of New England Inc. increased its stake in Alphabet by 0.4% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock valued at $3,043,000 after purchasing an additional 56 shares in the last quarter. Finally, Concentrum Wealth Management increased its stake in Alphabet by 0.3% during the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after purchasing an additional 57 shares in the last quarter. Institutional investors own 27.26% of the company's stock.
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,195 shares of company stock worth $35,764,898 over the last three months. Insiders own 12.99% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ GOOG traded up $3.84 during mid-day trading on Friday, reaching $178.27. The company's stock had a trading volume of 73,956,281 shares, compared to its average volume of 20,984,165. The stock has a 50-day moving average of $167.82 and a two-hundred day moving average of $176.02. The stock has a market capitalization of $2.16 trillion, a P/E ratio of 19.87, a P/E/G ratio of 1.26 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. 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 issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.89 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently announced 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 a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.
Analysts Set New Price Targets
A number of research analysts have issued reports on GOOG shares. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Finally, KeyCorp dropped their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.38.
View Our Latest Stock Analysis on GOOG
About Alphabet
(
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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