Woodside Wealth Management LLC Makes New $2.60 Million Investment in Alphabet Inc. (NASDAQ:GOOG)

Woodside Wealth Management LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,645 shares of the information services provider's stock, valued at approximately $2,600,000. Alphabet comprises approximately 2.4% of Woodside Wealth Management LLC's investment portfolio, making the stock its 11th biggest position.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. CWM LLC raised its holdings in shares of Alphabet by 6.0% during the 1st quarter. CWM LLC now owns 358,822 shares of the information services provider's stock worth $56,059,000 after acquiring an additional 20,156 shares during the period. Greatmark Investment Partners Inc. raised its holdings in shares of Alphabet by 11.3% during the 1st quarter. Greatmark Investment Partners Inc. now owns 7,904 shares of the information services provider's stock worth $1,235,000 after acquiring an additional 800 shares during the period. TFR Capital LLC. raised its holdings in shares of Alphabet by 8.9% during the 1st quarter. TFR Capital LLC. now owns 31,036 shares of the information services provider's stock worth $4,849,000 after acquiring an additional 2,549 shares during the period. Dock Street Asset Management Inc. raised its holdings in shares of Alphabet by 4.3% during the 1st quarter. Dock Street Asset Management Inc. now owns 232,336 shares of the information services provider's stock worth $36,298,000 after acquiring an additional 9,587 shares during the period. Finally, Pittenger & Anderson Inc. raised its holdings in shares of Alphabet by 12.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 1,893 shares of the information services provider's stock worth $296,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $181.31 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a market cap of $2.20 trillion, a PE ratio of 20.21, a P/E/G ratio of 1.27 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. The business has a 50-day simple moving average of $171.50 and a 200-day simple moving average of $174.92.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 dividend yield of 0.46%. Alphabet's payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on Alphabet from $195.00 to $200.00 and gave the stock an "overweight" rating in a report on Friday. The Goldman Sachs Group restated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday. Finally, Susquehanna restated a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $207.13.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares of the company's stock, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares of the company's stock, valued at $447,712,890.52. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 215,643 shares of company stock valued at $36,330,928. 12.99% of the stock is currently owned by corporate insiders.

Alphabet 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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