Alphabet Inc. (NASDAQ:GOOG) Stake Increased by Heirloom Wealth Management

Heirloom Wealth Management increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,039 shares of the information services provider's stock after acquiring an additional 4,643 shares during the period. Alphabet makes up about 5.6% of Heirloom Wealth Management's investment portfolio, making the stock its 8th largest position. Heirloom Wealth Management's holdings in Alphabet were worth $19,691,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Ethos Financial Group LLC boosted its holdings in Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock worth $1,395,000 after acquiring an additional 53 shares in the last quarter. Hutchinson Capital Management CA boosted its holdings in Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after acquiring an additional 54 shares in the last quarter. M. Kulyk & Associates LLC boosted its holdings in Alphabet by 0.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock worth $1,227,000 after acquiring an additional 56 shares in the last quarter. Retirement Planning Co of New England Inc. boosted its holdings in Alphabet by 0.4% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock worth $3,043,000 after acquiring an additional 56 shares in the last quarter. Finally, Concentrum Wealth Management boosted its holdings in Alphabet by 0.3% in the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after acquiring an additional 57 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOG traded up $3.84 on Friday, reaching $178.27. 73,956,281 shares of the company's stock traded hands, compared to its average volume of 20,984,165. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.16 trillion, a PE ratio of 19.87, a PEG ratio of 1.26 and a beta of 1.01. The stock's 50 day simple moving average is $167.82 and its two-hundred day simple moving average is $176.02. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly 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. 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 the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. Alphabet's revenue was up 12.0% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's dividend payout ratio is presently 9.36%.

Analysts Set New Price Targets

Several analysts have recently commented on GOOG shares. JPMorgan Chase & Co. increased their price objective on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. KeyCorp lowered their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Citigroup reissued a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Oppenheimer increased their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.38.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This represents a 1.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now owns 7,613 shares of the company's stock, valued at $1,232,544.70. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 216,195 shares of company stock worth $35,764,898. 12.99% of the stock is owned by company insiders.

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.