ORG Wealth Partners LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,607 shares of the information services provider's stock after buying an additional 1,448 shares during the period. Alphabet makes up 0.7% of ORG Wealth Partners LLC's portfolio, making the stock its 22nd biggest position. ORG Wealth Partners LLC's holdings in Alphabet were worth $2,162,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the business. Principia Wealth Advisory LLC lifted its stake in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after acquiring an additional 85 shares during the period. LSV Asset Management purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $27,000. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC purchased a new stake in Alphabet in the fourth quarter worth approximately $43,000. 27.26% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on GOOG. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. KeyCorp reduced their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Finally, UBS Group cut their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $204.88.
Get Our Latest Stock Report on GOOG
Alphabet Trading Down 1.8%
Shares of Alphabet stock opened at $173.98 on Friday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $166.15 and a 200-day moving average price of $176.43. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.23 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors 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 of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio is presently 9.36%.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock worth $32,003,532 over the last 90 days. 12.99% of the stock is owned by insiders.
Alphabet Profile
(
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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