AMI Investment Management Inc. Buys 991 Shares of Alphabet Inc. (NASDAQ:GOOG)

AMI Investment Management Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,458 shares of the information services provider’s stock after buying an additional 991 shares during the period. Alphabet comprises about 2.3% of AMI Investment Management Inc.’s investment portfolio, making the stock its 13th biggest position. AMI Investment Management Inc.’s holdings in Alphabet were worth $7,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in GOOG. LSV Asset Management bought a new position in Alphabet during the fourth quarter valued at approximately $27,000. WealthTrak Capital Management LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet in the 4th quarter valued at $39,000. Noble Wealth Management PBC bought a new position in shares of Alphabet during the 4th quarter valued at $43,000. Finally, FPC Investment Advisory Inc. raised its position in Alphabet by 287.9% in the 4th quarter. FPC Investment Advisory Inc. now owns 225 shares of the information services provider’s stock worth $46,000 after purchasing an additional 167 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s 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 sale, the chief executive officer now directly owns 2,587,696 shares of the company’s stock, valued at $436,570,192.16. The trade was a 1.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the transaction, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% 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.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $169.81 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 21.09, a P/E/G ratio of 1.34 and a beta of 1.01. The company’s 50-day moving average is $161.56 and its 200 day moving average is $176.09. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 EPS. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.49%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several analyst reports. Susquehanna restated a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Monday. KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Scotiabank decreased their price target on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Finally, Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.88.

About Alphabet

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.