HighMark Wealth Management LLC Purchases 92 Shares of Alphabet Inc. (NASDAQ:GOOG)

HighMark Wealth Management LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,311 shares of the information services provider’s stock after acquiring an additional 92 shares during the quarter. HighMark Wealth Management LLC’s holdings in Alphabet were worth $205,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Principia Wealth Advisory LLC increased its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after buying an additional 85 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Alphabet in the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet during the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet in the fourth quarter valued at approximately $43,000. 27.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOOG has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. KeyCorp cut their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Susquehanna restated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Finally, UBS Group dropped their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.88.

Alphabet Trading Up 1.7%

Shares of Alphabet stock opened at $174.43 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a 50-day moving average of $167.33 and a 200-day moving average of $176.22. 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 $2.12 trillion, a PE ratio of 19.45, a PEG ratio of 1.21 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued 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. The business had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.89 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

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

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the sale, the director now directly owns 7,613 shares of the company’s stock, valued at $1,232,544.70. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,195 shares of company stock worth $35,764,898. Company insiders own 12.99% of the company’s stock.

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.