Mcguire Capital Advisors Inc. Buys New Shares in Alphabet Inc. $GOOG

Mcguire Capital Advisors Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOGFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,803 shares of the information services provider’s stock, valued at approximately $4,018,000. Alphabet accounts for approximately 2.6% of Mcguire Capital Advisors Inc.’s investment portfolio, making the stock its 7th biggest position.

A number of other large investors have also bought and sold shares of GOOG. Imprint Wealth LLC bought a new position in shares of Alphabet during the 3rd quarter worth about $31,000. Nvest Wealth Strategies Inc. bought a new stake in Alphabet in the 4th quarter valued at about $38,000. Bard Associates Inc. bought a new stake in Alphabet in the 4th quarter valued at about $41,000. Towne Trust Company N.A raised its stake in Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares during the period. Finally, Commonwealth Retirement Investments LLC acquired a new position in Alphabet during the 4th quarter worth approximately $45,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOG has been the subject of a number of research reports. Raymond James Financial reissued a “strong-buy” rating and issued a $425.00 price objective on shares of Alphabet in a research note on Thursday, April 30th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $435.00 target price on shares of Alphabet in a research report on Tuesday, June 2nd. Scotiabank reiterated an “outperform” rating and issued a $450.00 target price (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. Stifel Nicolaus set a $420.00 price target on shares of Alphabet in a research report on Wednesday, May 20th. Finally, KeyCorp reissued an “overweight” rating on shares of Alphabet in a research report on Wednesday, May 20th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus price target of $376.78.

Check Out Our Latest Analysis on Alphabet

Insider Transactions at Alphabet

In other Alphabet news, insider John Kent Walker sold 8,993 shares of Alphabet stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the transaction, the insider owned 51,808 shares of the company’s stock, valued at $14,293,309.12. This trade represents a 14.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 102 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $381.00, for a total value of $38,862.00. Following the completion of the transaction, the director owned 18,721 shares in the company, valued at $7,132,701. The trade was a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 160,516 shares of company stock worth $7,344,604. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $367.46 on Friday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The stock has a market cap of $4.45 trillion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22. The stock’s fifty day simple moving average is $363.25 and its two-hundred day simple moving average is $330.81. Alphabet Inc. has a 1-year low of $163.33 and a 1-year high of $404.47.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $2.43. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.96 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.81 EPS. As a group, analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. Alphabet’s payout ratio is currently 6.71%.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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