Dynamic Advisor Solutions LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Dynamic Advisor Solutions LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the first quarter, HoldingsChannel reports. The firm owned 69,103 shares of the information services provider’s stock after buying an additional 1,119 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Alphabet were worth $10,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management acquired a new stake in Alphabet in the 4th quarter worth about $27,000. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after buying an additional 85 shares during the last quarter. WealthTrak Capital Management LLC acquired a new stake in Alphabet in the 4th quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in Alphabet in the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the company’s 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 transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock valued at $32,003,532 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $175.88 on Friday. The stock’s 50 day moving average price is $164.57 and its 200 day moving average price is $176.34. The firm has a market capitalization of $2.13 trillion, a PE ratio of 21.85, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.

Alphabet (NASDAQ:GOOG) last announced 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 return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. Alphabet’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. 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. JPMorgan Chase & Co. lifted their price objective on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Tigress Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet 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.