Global Assets Advisory LLC Acquires 3,686 Shares of Alphabet Inc. (NASDAQ:GOOG)

Global Assets Advisory LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 338.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,775 shares of the information services provider’s stock after purchasing an additional 3,686 shares during the period. Global Assets Advisory LLC’s holdings in Alphabet were worth $742,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principia Wealth Advisory LLC raised its position in Alphabet by 111.8% during 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 last quarter. LSV Asset Management bought a new position in Alphabet during the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC bought a new position in Alphabet during the 4th quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in Alphabet during the 4th quarter valued at approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GOOG shares. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research report on Friday, May 2nd. Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their target price on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Finally, KeyCorp decreased their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction 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 completion of the sale, the director now directly owns 7,613 shares of the company’s stock, valued at approximately $1,232,544.70. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,306 shares of company stock worth $35,782,927 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $171.49 on Thursday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.08 trillion, a P/E ratio of 19.12, a PEG ratio of 1.18 and a beta of 1.01. The stock’s 50 day moving average is $166.90 and its 200 day moving average is $176.24. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results 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 company 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 EPS. On average, equities research analysts predict 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 was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. 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.