Tyche Wealth Partners LLC Buys 170 Shares of Alphabet Inc. (NASDAQ:GOOG)

Tyche Wealth Partners LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,718 shares of the information services provider’s stock after purchasing an additional 170 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Alphabet were worth $1,518,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $27,000. Principia Wealth Advisory LLC boosted its stake in shares of 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 last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet during the fourth quarter worth $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the sale, the chief executive officer now directly owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This represents a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $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. Insiders have sold 216,306 shares of company stock valued at $35,782,927 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 2.2%

GOOG opened at $171.49 on Thursday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.18 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company’s 50-day moving average price is $166.90 and its two-hundred day moving average price is $176.24.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. Alphabet’s revenue was up 12.0% on a year-over-year basis. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current 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 paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet’s payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

GOOG has been the subject of several recent analyst reports. Oppenheimer raised their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. KeyCorp cut their target price 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 lowered their price target on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. Finally, Rosenblatt Securities upgraded 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 assigned a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

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.