Alphabet Inc. $GOOG Shares Bought by Schmidt P J Investment Management Inc.

Key Points

• Schmidt P J Investment Management Inc. increased its holdings in Alphabet Inc. by 6.5% in Q1, bringing its total to approximately $16.85 million and making it the firm's 7th largest holding.
• Alphabet reported a net margin of 31.12% and revenue growth of 13.8% year-over-year, with an earnings per share (EPS) of $2.31, exceeding estimates by $0.19.
• Alphabet recently declared a $0.21 quarterly dividend, with a yield of 0.4%, scheduled for payment on September 15th.

Schmidt P J Investment Management Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,833 shares of the information services provider's stock after acquiring an additional 6,614 shares during the period. Alphabet makes up about 3.1% of Schmidt P J Investment Management Inc.'s investment portfolio, making the stock its 7th largest position. Schmidt P J Investment Management Inc.'s holdings in Alphabet were worth $16,847,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC boosted its stake in shares of Alphabet by 111.8% during the first 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 during the period. MorganRosel Wealth Management LLC bought a new position in Alphabet during the 1st quarter worth about $26,000. Goodman Advisory Group LLC purchased a new position in Alphabet during the 1st quarter valued at about $32,000. Greykasell Wealth Strategies Inc. purchased a new position in Alphabet during the 1st quarter valued at about $32,000. Finally, Elevate Wealth Advisory Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at about $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Scotiabank increased their target price on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. KeyCorp set a $265.00 price target on Alphabet in a report on Wednesday, September 3rd. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Barclays reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $227.56.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total value of $6,497,400.00. Following the transaction, the chief executive officer owned 2,462,392 shares in the company, valued at approximately $492,281,408.64. This represents a 1.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock worth $49,208,380 in the last 90 days. Corporate insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Alphabet stock traded up $0.60 during mid-day trading on Friday, reaching $241.38. 14,519,054 shares of the company traded hands, compared to its average volume of 23,942,092. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57. The firm's fifty day moving average is $201.45 and its two-hundred day moving average is $178.39. 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 capitalization of $2.92 trillion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the business earned $1.89 EPS. The company's quarterly revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

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.