Bulltick Wealth Management LLC Acquires 12,312 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bulltick Wealth Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 236.6% in the first quarter, Holdings Channel reports. The firm owned 17,515 shares of the information services provider’s stock after purchasing an additional 12,312 shares during the period. Bulltick Wealth Management LLC’s holdings in Alphabet were worth $2,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of GOOG. Principia Wealth Advisory LLC grew 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 purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC bought a new position in Alphabet in the 1st quarter valued at $26,000. LSV Asset Management bought a new position in Alphabet in the 4th quarter valued at $27,000. Goodman Advisory Group LLC bought a new position in Alphabet in the 1st quarter valued at $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new position in Alphabet in the 1st quarter valued at $32,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the sale, the director owned 6,916 shares of the company’s stock, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 274,219 shares of company stock worth $49,674,273. 12.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GOOG. Westpark Capital reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. The Goldman Sachs Group reiterated a “buy” rating and set a $220.00 price target on shares of Alphabet in a research note on Monday, June 2nd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Raymond James Financial reiterated an “outperform” rating and set a $210.00 price target (up previously from $185.00) on shares of Alphabet in a research note on Thursday, July 24th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $215.19.

Alphabet Stock Down 0.2%

Shares of NASDAQ GOOG opened at $201.63 on Tuesday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The business has a 50-day simple moving average of $182.53 and a two-hundred day simple moving average of $174.34. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.44 trillion, a P/E ratio of 21.47, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share 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 firm had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the firm posted $1.89 EPS. The company’s revenue was up 13.8% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s dividend payout ratio (DPR) is presently 8.95%.

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.