MFG Wealth Management Inc. Makes New $1.01 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

MFG Wealth Management Inc. acquired a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,462 shares of the information services provider's stock, valued at approximately $1,010,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management acquired a new stake in shares of Alphabet in the 4th quarter valued at about $27,000. Principia Wealth Advisory LLC raised its stake in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Alphabet during the 4th quarter valued at about $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 27.26% of the company's stock.

Insider Activity

In related news, CAO Amie Thuener O'toole sold 673 shares of the 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 sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the sale, the director now directly owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. 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. Corporate insiders own 12.99% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GOOG. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. KeyCorp lowered 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. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $204.88.

Alphabet Trading Up 1.7%

Alphabet stock opened at $174.43 on Friday. The firm has a 50 day simple moving average of $167.33 and a 200-day simple moving average of $176.22. 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 stock has a market capitalization of $2.12 trillion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business's revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $1.89 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio (DPR) is 9.36%.

About Alphabet

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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