Surience Private Wealth LLC Invests $2.93 Million in Alphabet Inc. (NASDAQ:GOOG)

Surience Private Wealth LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,750 shares of the information services provider’s stock, valued at approximately $2,929,000. Alphabet accounts for about 5.1% of Surience Private Wealth LLC’s holdings, making the stock its 7th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. LSV Asset Management bought a new stake in Alphabet during the fourth quarter worth about $27,000. Principia Wealth Advisory LLC raised its holdings in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after acquiring an additional 85 shares in the last quarter. WealthTrak Capital Management LLC bought a new stake in Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. bought a new stake in Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC bought a new stake in Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GOOG shares. BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Scotiabank dropped their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and six have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.38.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the sale, the chief executive officer now owns 2,555,196 shares of the company’s stock, valued at $451,452,029.28. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,195 shares of company stock valued at $35,764,898 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Alphabet stock opened at $178.27 on Friday. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The stock’s 50 day moving average is $167.82 and its 200-day moving average is $176.02. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.26 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current 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 given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 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.