WNY Asset Management LLC Has $1.02 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• WNY Asset Management LLC increased its holdings in Alphabet Inc. by 32.7% in the first quarter, acquiring an additional 1,632 shares to reach a total of 6,622 shares, valued at approximately $1,024,000.
• Alphabet reported $2.81 earnings per share for the quarter, exceeding expectations by $0.79, with total revenue of $76.49 billion, falling short of analyst projections.
• The company announced a quarterly dividend of $0.21 per share, set to be paid to investors on September 15th, which yields an annualized 0.43%.

WNY Asset Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 32.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,622 shares of the information services provider's stock after buying an additional 1,632 shares during the period. WNY Asset Management LLC's holdings in Alphabet were worth $1,024,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new position in Alphabet in the first quarter worth approximately $28,000. Financial Gravity Asset Management Inc. bought a new stake in Alphabet in the first quarter worth approximately $39,000. Elite Financial Inc. acquired a new position in shares of Alphabet during the 1st quarter worth $42,000. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter valued at $49,000. Finally, EQ Wealth Advisors LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at $49,000. Institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 400 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the transaction, the director owned 6,013 shares of the company's stock, valued at $1,094,245.74. This represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,298 shares of company stock valued at $43,505,967 over the last quarter. Corporate insiders own 11.64% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOGL traded up $0.78 during mid-day trading on Wednesday, reaching $196.53. 32,265,287 shares of the company were exchanged, compared to its average volume of 37,021,776. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market cap of $2.38 trillion, a PE ratio of 20.93, a PEG ratio of 1.30 and a beta of 1.00. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a fifty day moving average of $177.49 and a 200 day moving average of $173.11.

Alphabet Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GOOGL shares. Wedbush increased their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Needham & Company LLC upped their price target on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. DA Davidson raised their price objective on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Rosenblatt Securities boosted their target price on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, UBS Group increased their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $211.39.

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.