Net Worth Advisory Group Buys 1,291 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Net Worth Advisory Group raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 28.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,868 shares of the information services provider’s stock after acquiring an additional 1,291 shares during the quarter. Net Worth Advisory Group’s holdings in Alphabet were worth $907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rockbridge Capital Management LLC bought a new stake in Alphabet during the 4th quarter valued at $3,119,000. Optivise Advisory Services LLC boosted its position in shares of Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. boosted its position in shares of Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd boosted its position in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC boosted its position in shares of Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,570 shares of company stock valued at $32,003,532. 11.64% of the stock is owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $175.70 on Friday. The stock has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. 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 has a 50-day moving average of $162.29 and a 200 day moving average of $174.57.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 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%. During the same quarter in the prior year, the firm posted $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.36%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GOOGL shares. Cantor Fitzgerald lowered their price objective on Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Wednesday, May 21st. Finally, Wedbush set a $190.00 price target on Alphabet and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

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.