WNY Asset Management LLC Purchases 2,305 Shares of Alphabet Inc. (NASDAQ:GOOG)

WNY Asset Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 35.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,770 shares of the information services provider's stock after purchasing an additional 2,305 shares during the quarter. WNY Asset Management LLC's holdings in Alphabet were worth $1,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. LSV Asset Management acquired a new position in Alphabet during the fourth quarter worth $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 in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the first quarter worth $26,000. WealthTrak Capital Management LLC acquired a new position in Alphabet during the fourth quarter worth $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Alphabet during the fourth quarter worth $39,000. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other Alphabet news, 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 transaction 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 $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction dated 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 completion of the sale, the director directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,843 shares of company stock worth $37,288,490. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Up 0.7%

GOOG stock opened at $185.94 on Friday. The stock's 50 day moving average is $174.02 and its 200-day moving average is $174.61. The firm has a market capitalization of $2.26 trillion, a PE ratio of 20.73, a P/E/G ratio of 1.29 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. Alphabet's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $1.89 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.45%. Alphabet's payout ratio is 9.36%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. Cowen restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a report on Wednesday, July 9th. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $208.40.

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.

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