Alphabet Inc. (NASDAQ:GOOG) Stake Boosted by Angeles Wealth Management LLC

Angeles Wealth Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,884 shares of the information services provider’s stock after buying an additional 84 shares during the quarter. Alphabet accounts for 0.5% of Angeles Wealth Management LLC’s portfolio, making the stock its 26th largest position. Angeles Wealth Management LLC’s holdings in Alphabet were worth $6,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Principia Wealth Advisory LLC boosted its position in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the first quarter valued at $26,000. LSV Asset Management purchased a new stake in Alphabet in the 4th quarter worth about $27,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the 1st quarter worth about $32,000. Finally, WealthTrak Capital Management LLC purchased a new position in Alphabet during the 4th quarter valued at about $38,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.5%

Shares of GOOG stock opened at $194.08 on Friday. The stock’s 50 day simple moving average is $176.86 and its 200 day simple moving average is $174.67. 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 0.07, a quick ratio of 1.77 and a current ratio of 1.90. The company has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 20.67, a PEG ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the company posted $1.89 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.43%. Alphabet’s payout ratio is presently 8.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GOOG. The Goldman Sachs Group reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Raymond James Financial reissued an “outperform” rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research note on Thursday. Finally, BNP Paribas downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $215.19.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 in the last quarter. Insiders own 12.99% of the company’s stock.

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.