BostonPremier Wealth LLC Purchases 188 Shares of Alphabet Inc. (NASDAQ:GOOG)

BostonPremier Wealth LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,073 shares of the information services provider’s stock after purchasing an additional 188 shares during the period. Alphabet accounts for approximately 0.7% of BostonPremier Wealth LLC’s investment portfolio, making the stock its 17th biggest holding. BostonPremier Wealth LLC’s holdings in Alphabet were worth $1,105,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Principia Wealth Advisory LLC boosted its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares during the period. LSV Asset Management bought a new position in shares of Alphabet during the fourth quarter worth approximately $27,000. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Alphabet in the fourth quarter valued at approximately $43,000. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of recent research reports. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. KeyCorp reduced their target price on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a 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 report on Monday, April 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, Susquehanna reiterated a “positive” rating on shares of Alphabet in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.88.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now owns 261,966 shares of the company’s stock, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $173.98 on Thursday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.25 and a beta of 1.01. The firm has a 50 day simple moving average of $165.77 and a 200 day simple moving average of $176.42.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the business earned $1.89 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. Research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

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.