Wooster Corthell Wealth Management Inc. Invests $312,000 in Alphabet Inc. (NASDAQ:GOOG)

Key Points

• Wooster Corthell Wealth Management Inc. invested $312,000 in Alphabet Inc., acquiring 1,994 shares during the first quarter, according to their recent SEC filing.
• Alphabet reported strong quarterly earnings exceeding analysts’ expectations, with an EPS of $2.31 and revenues of $96.43 billion, reflecting a 13.8% year-over-year increase.
• The company has declared a quarterly dividend of $0.21 per share, which translates to an annualized yield of 0.43%, marking a dividend payout ratio of 8.95%.

Wooster Corthell Wealth Management Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,994 shares of the information services provider's stock, valued at approximately $312,000.

Other institutional investors have also recently bought and sold shares of the company. ARQ Wealth Advisors LLC lifted its holdings in shares of Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Alphabet by 10.2% during the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after buying an additional 1,376 shares during the last quarter. Harvest Investment Services LLC lifted its holdings in shares of Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after buying an additional 138 shares during the last quarter. Fermata Advisors LLC lifted its holdings in shares of Alphabet by 2.7% during the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after buying an additional 259 shares during the last quarter. Finally, jvl associates llc lifted its holdings in shares of Alphabet by 3.5% during the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after buying an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

Shares of GOOG traded up $1.01 on Wednesday, reaching $197.44. 21,048,793 shares of the stock traded hands, compared to its average volume of 24,257,904. The firm has a market cap of $2.40 trillion, a price-to-earnings ratio of 21.03, a P/E/G ratio of 1.30 and a beta of 1.01. 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 Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The stock's 50-day moving average price is $178.54 and its 200-day moving average price is $174.69.

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

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is 8.95%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. UBS Group lifted their price target on Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $215.19.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company'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 $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 400 shares of the company's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director owned 6,013 shares in the company, valued at $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,298 shares of company stock worth $43,505,967 over the last three months. Company insiders own 12.99% of the company's stock.

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.