10,205 Shares in Alphabet Inc. (NASDAQ:GOOG) Bought by Steele Capital Management Inc.

Steele Capital Management Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,205 shares of the information services provider's stock, valued at approximately $1,594,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ipswich Investment Management Co. Inc. grew its holdings in shares of Alphabet by 3.3% in the first quarter. Ipswich Investment Management Co. Inc. now owns 15,752 shares of the information services provider's stock valued at $2,461,000 after purchasing an additional 505 shares in the last quarter. Krilogy Financial LLC boosted its position in Alphabet by 3.2% in the 1st quarter. Krilogy Financial LLC now owns 47,104 shares of the information services provider's stock valued at $7,359,000 after buying an additional 1,439 shares during the period. Opinicus Capital Inc. boosted its position in Alphabet by 11.7% in the 1st quarter. Opinicus Capital Inc. now owns 9,802 shares of the information services provider's stock valued at $1,531,000 after buying an additional 1,030 shares during the period. Everhart Financial Group Inc. grew its stake in shares of Alphabet by 5.8% in the first quarter. Everhart Financial Group Inc. now owns 31,881 shares of the information services provider's stock worth $4,981,000 after acquiring an additional 1,751 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE purchased a new stake in shares of Alphabet during the first quarter worth $10,020,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of a number of recent research reports. Oppenheimer lifted their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. Scotiabank decreased their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $204.88.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now directly owns 7,613 shares of the company's stock, valued at $1,232,544.70. The trade was a 2.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 11,764 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is owned by insiders.

Alphabet Stock Down 0.4%

NASDAQ:GOOG traded down $0.71 during midday trading on Tuesday, hitting $177.23. 17,459,815 shares of the company were exchanged, compared to its average volume of 20,511,674. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a market capitalization of $2.15 trillion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $165.52 and a 200 day simple moving average of $176.44.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the company posted $1.89 earnings per share. The business's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is a positive change 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 annualized dividend and a yield of 0.47%. Alphabet's payout ratio 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.