Insight Advisors LLC PA Boosts Position in Alphabet Inc. (NASDAQ:GOOG)

Insight Advisors LLC PA grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,768 shares of the information services provider’s stock after buying an additional 848 shares during the period. Insight Advisors LLC PA’s holdings in Alphabet were worth $2,932,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Pinnacle Wealth Management Group Inc. grew its stake in Alphabet by 6.5% in the first quarter. Pinnacle Wealth Management Group Inc. now owns 3,955 shares of the information services provider’s stock worth $618,000 after purchasing an additional 241 shares during the period. Adamsbrown Wealth Consultants LLC grew its stake in Alphabet by 10.0% in the first quarter. Adamsbrown Wealth Consultants LLC now owns 1,734 shares of the information services provider’s stock worth $271,000 after purchasing an additional 158 shares during the period. Safeguard Financial LLC grew its stake in Alphabet by 3.0% in the first quarter. Safeguard Financial LLC now owns 5,076 shares of the information services provider’s stock worth $793,000 after purchasing an additional 147 shares during the period. Foster Group Inc. grew its stake in Alphabet by 4.9% in the first quarter. Foster Group Inc. now owns 2,160 shares of the information services provider’s stock worth $338,000 after purchasing an additional 100 shares during the period. Finally, AMI Investment Management Inc. grew its stake in Alphabet by 2.2% in the first quarter. AMI Investment Management Inc. now owns 46,458 shares of the information services provider’s stock worth $7,258,000 after purchasing an additional 991 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOG opened at $169.81 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $161.56 and a two-hundred day simple moving average of $176.09. The stock has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.09, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 32.49% and a net margin of 28.60%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.89 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOG shares. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Scotiabank dropped their target price on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, UBS Group lowered their price target on 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 assigned a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

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.