Long Run Wealth Advisors LLC Purchases 3,847 Shares of Alphabet Inc. (NASDAQ:GOOG)

Long Run Wealth Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 19.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 23,807 shares of the information services provider’s stock after buying an additional 3,847 shares during the period. Long Run Wealth Advisors LLC’s holdings in Alphabet were worth $3,719,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. LSV Asset Management bought a new position in shares of Alphabet during the 4th quarter valued at $27,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet during the fourth quarter valued at $39,000. Noble Wealth Management PBC bought a new position in Alphabet in the fourth quarter valued at about $43,000. Finally, FPC Investment Advisory Inc. lifted its holdings in Alphabet by 287.9% in the fourth quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 167 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 163,270 shares of company stock worth $26,553,563 over the last quarter. Insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Rosenblatt Securities raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Finally, Westpark Capital reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $204.88.

Alphabet Price Performance

NASDAQ:GOOG opened at $167.71 on Wednesday. The business’s 50-day simple moving average is $161.02 and its two-hundred day simple moving average is $176.18. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The stock has a market cap of $2.04 trillion, a PE ratio of 20.83, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $1.89 earnings per share. As a group, 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 will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.