Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,846 shares of the information services provider's stock after acquiring an additional 4,111 shares during the period. Alphabet comprises approximately 0.9% of Litman Gregory Wealth Management LLC's investment portfolio, making the stock its 29th biggest holding. Litman Gregory Wealth Management LLC's holdings in Alphabet were worth $11,068,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ARQ Wealth Advisors LLC grew its holdings in shares of Alphabet by 39.3% during the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares during the last quarter. Independence Bank of Kentucky grew its holdings in shares of Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after buying an additional 1,376 shares during the last quarter. Harvest Investment Services LLC grew its holdings in shares of Alphabet by 3.3% during the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after buying an additional 138 shares during the last quarter. North Forty Two & Co. purchased a new stake in shares of Alphabet during the fourth quarter valued at $281,000. Finally, Fermata Advisors LLC grew its holdings in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after buying an additional 259 shares during the last quarter. Institutional investors own 27.26% of the company's stock.

Alphabet Trading Up 0.7%

Shares of NASDAQ:GOOG traded up $1.24 during mid-day trading on Friday, reaching $185.94. 20,915,424 shares of the company were exchanged, compared to its average volume of 21,587,144. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $2.26 trillion, a price-to-earnings ratio of 20.73, a P/E/G ratio of 1.29 and a beta of 1.01. The firm's 50-day simple moving average is $174.02 and its 200 day simple moving average is $174.61. 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 released its earnings results 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. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction 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 directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director directly owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,843 shares of company stock valued at $37,288,490 in the last ninety days. Insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. KeyCorp decreased their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Piper Sandler reiterated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Susquehanna reiterated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $208.40.

Alphabet Company 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.