Mowery & Schoenfeld Wealth Management LLC Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Mowery & Schoenfeld Wealth Management LLC increased its holdings in Alphabet Inc. by 15.2%, bringing its total investment to $1.69 million.
• Alphabet's latest quarterly earnings showed $2.81 EPS, surpassing expectations, but its revenue of $76.49 billion fell short of the estimated $89.30 billion.
• Recent insider trades include CEO Sundar Pichai selling 32,500 shares at an average price of $178.52, reducing his ownership in the company.

Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,947 shares of the information services provider's stock after purchasing an additional 1,441 shares during the quarter. Alphabet accounts for about 3.3% of Mowery & Schoenfeld Wealth Management LLC's investment portfolio, making the stock its 6th largest holding. Mowery & Schoenfeld Wealth Management LLC's holdings in Alphabet were worth $1,693,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GOOGL. Perritt Capital Management Inc grew its position in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after buying an additional 58 shares during the last quarter. Nia Impact Advisors LLC boosted its position in Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares during the period. Hanlon Investment Management Inc. grew its position in shares of Alphabet by 1.7% in the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares during the last quarter. Enzi Wealth boosted its holdings in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the period. Finally, Whipplewood Advisors LLC increased its position in shares of Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Mizuho dropped their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Sanford C. Bernstein boosted their target price on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Roth Capital lifted their target price on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of Alphabet from $185.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $211.39.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 400 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,298 shares of company stock worth $43,505,967. Company insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Alphabet stock traded up $0.78 during midday trading on Wednesday, hitting $196.53. The company's stock had a trading volume of 32,265,287 shares, compared to its average volume of 37,021,776. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a market cap of $2.38 trillion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.30 and a beta of 1.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a 50-day moving average price of $177.49 and a two-hundred day moving average price of $173.11.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet's payout ratio is 8.95%.

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.