Traveka Wealth LLC Buys 3,049 Shares of Alphabet Inc. (NASDAQ:GOOG)

Traveka Wealth LLC increased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 37.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,160 shares of the information services provider's stock after buying an additional 3,049 shares during the quarter. Alphabet comprises about 1.0% of Traveka Wealth LLC's investment portfolio, making the stock its 29th biggest position. Traveka Wealth LLC's holdings in Alphabet were worth $1,744,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LSV Asset Management acquired a new position in shares of Alphabet in the fourth quarter worth about $27,000. Principia Wealth Advisory LLC raised its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new position in Alphabet during the 1st quarter worth $26,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth about $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 27.26% of the company's stock.

Analysts Set New Price Targets

GOOG has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price objective on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Cowen reissued a "buy" rating on shares of Alphabet in a research note on Wednesday. Citigroup restated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and six have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $207.63.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the sale, the chief executive officer owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This trade represents a 1.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the sale, the director owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock worth $36,330,928 over the last three months. Company insiders own 12.99% of the company's stock.

Alphabet Stock Performance

Shares of GOOG traded up $3.03 during mid-day trading on Wednesday, hitting $178.19. The company's stock had a trading volume of 15,827,231 shares, compared to its average volume of 21,238,367. The stock's 50-day moving average is $170.54 and its two-hundred day moving average is $175.29. The firm has a market capitalization of $2.16 trillion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet's dividend payout ratio (DPR) 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.