Alphabet Inc. (NASDAQ:GOOG) Holdings Lifted by 1900 Wealth Management LLC

1900 Wealth Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,451 shares of the information services provider’s stock after buying an additional 345 shares during the quarter. 1900 Wealth Management LLC’s holdings in Alphabet were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Sterling Financial Planning Inc. grew its holdings in shares of Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock valued at $370,000 after buying an additional 50 shares in the last quarter. Ethos Financial Group LLC grew its holdings in shares of Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock valued at $1,395,000 after buying an additional 53 shares in the last quarter. Hutchinson Capital Management CA boosted its position in Alphabet by 1.5% during the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after purchasing an additional 54 shares during the last quarter. M. Kulyk & Associates LLC boosted its position in Alphabet by 0.9% during the fourth quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider’s stock valued at $1,227,000 after purchasing an additional 56 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. boosted its position in Alphabet by 0.4% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider’s stock valued at $3,043,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $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 195,570 shares of company stock worth $32,003,532 over the last three months. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Susquehanna reissued a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Citigroup reissued a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Scotiabank reduced their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating 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 assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $204.88.

Alphabet Price Performance

NASDAQ GOOG opened at $175.88 on Monday. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $2.13 trillion, a PE ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01. The stock has a 50-day simple moving average of $164.57 and a 200 day simple moving average of $176.38.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. The firm’s revenue was up 12.0% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s payout ratio is currently 9.36%.

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.