Consilium Wealth Advisory LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Consilium Wealth Advisory LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,216 shares of the information services provider’s stock after acquiring an additional 395 shares during the period. Consilium Wealth Advisory LLC’s holdings in Alphabet were worth $815,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Norges Bank purchased a new position in Alphabet during the fourth quarter worth about $5,166,070,000. GAMMA Investing LLC grew its position in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after buying an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Alphabet during the fourth quarter worth about $1,551,533,000. Northern Trust Corp grew its position in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC grew its position in Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GOOG shares. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. JPMorgan Chase & Co. lifted their price target on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, KeyCorp lowered their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.88.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares in the company, valued at $1,232,544.70. This represents a 2.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 195,570 shares of company stock worth $32,003,532 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.2%

GOOG stock opened at $177.94 on Tuesday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The business’s 50 day moving average price is $165.19 and its two-hundred day moving average price is $176.43. 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 company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its 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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 EPS. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 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.