Alphabet Inc. (NASDAQ:GOOG) Position Boosted by Trajan Wealth LLC

Key Points

• Trajan Wealth LLC increased its stake in Alphabet Inc. by 9% in Q1, now holding 89,831 shares valued at approximately $14.03 million.
• Several other institutional investors have significantly increased their positions in Alphabet, with Nuveen LLC acquiring a new stake worth over $2.62 billion in the same quarter.
• Alphabet announced a quarterly dividend of $0.21 per share, marking an annualized yield of 0.4%, and the dividend will be paid to shareholders of record on September 8th.

Trajan Wealth LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,831 shares of the information services provider's stock after acquiring an additional 7,431 shares during the period. Trajan Wealth LLC's holdings in Alphabet were worth $14,034,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. JDM Financial Group LLC raised its holdings in Alphabet by 10.6% during the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after purchasing an additional 57 shares in the last quarter. Objectivity Squared LLC raised its holdings in Alphabet by 0.4% during the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock worth $2,605,000 after purchasing an additional 62 shares in the last quarter. Tranquility Partners LLC raised its holdings in Alphabet by 0.4% during the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock worth $2,263,000 after purchasing an additional 63 shares in the last quarter. Stonebridge Financial Group LLC raised its holdings in Alphabet by 0.6% during the first quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider's stock worth $1,664,000 after purchasing an additional 64 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in Alphabet by 28.5% during the fourth quarter. True Wealth Design LLC now owns 293 shares of the information services provider's stock worth $56,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 27.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on GOOG shares. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer reissued an "outperform" rating and set a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $215.19.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 274,219 shares of company stock worth $49,674,273. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG traded up $0.79 during trading on Thursday, hitting $203.82. 17,605,944 shares of the company were exchanged, compared to its average volume of 24,009,111. The company has a market cap of $2.46 trillion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.36 and a beta of 1.02. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm's fifty day moving average price is $183.93 and its 200 day moving average price is $174.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.

Alphabet Company 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.