Net Worth Advisory Group Has $2.18 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Net Worth Advisory Group lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,943 shares of the information services provider’s stock after purchasing an additional 174 shares during the period. Alphabet accounts for 0.7% of Net Worth Advisory Group’s holdings, making the stock its 22nd biggest holding. Net Worth Advisory Group’s holdings in Alphabet were worth $2,178,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GOOG. Cassaday & Co Wealth Management LLC lifted its holdings in Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider’s stock valued at $5,341,000 after buying an additional 2,390 shares during the period. LaFleur & Godfrey LLC lifted its holdings in Alphabet by 1.2% in the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock valued at $6,088,000 after buying an additional 380 shares during the period. Brighton Jones LLC lifted its holdings in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after buying an additional 6,410 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Alphabet in the fourth quarter valued at $204,262,000. Finally, Ascent Wealth Partners LLC increased its stake in Alphabet by 246.2% in the fourth quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider’s stock valued at $1,085,000 after purchasing an additional 4,052 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 0.7%

Shares of GOOG opened at $178.79 on Thursday. The firm has a market capitalization of $2.17 trillion, a P/E ratio of 22.21, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $163.42 and a 200-day moving average price of $176.21.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The business’s revenue was up 12.0% on a year-over-year basis. Equities research 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. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. This is a positive change 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%.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. Susquehanna reaffirmed a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. UBS Group decreased their price target on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Scotiabank decreased their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research note on Monday, April 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $204.88.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction 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 sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,570 shares of company stock valued at $32,003,532. 12.99% of the stock is currently owned by insiders.

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.