Dividend Assets Capital LLC Has $394,000 Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Dividend Assets Capital LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,522 shares of the information services provider’s stock after purchasing an additional 100 shares during the period. Dividend Assets Capital LLC’s holdings in Alphabet were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GOOG. Principia Wealth Advisory LLC raised its holdings in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the period. LSV Asset Management acquired a new position in shares of Alphabet during the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at $436,570,192.16. The trade was a 1.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 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 $105,000.00. Following the completion of the sale, the director now owns 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,770 shares of company stock worth $32,036,638 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOG. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. UBS Group reduced their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Needham & Company LLC downgraded shares of Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.88.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $180.01 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $162.80 and its two-hundred day simple moving average is $176.20. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock has a market cap of $2.18 trillion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its 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 company had revenue of $90.23 billion for 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 business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

About Alphabet

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.