FSM Wealth Advisors LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOG)

FSM Wealth Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,364 shares of the information services provider’s stock after acquiring an additional 1,287 shares during the quarter. Alphabet accounts for about 0.7% of FSM Wealth Advisors LLC’s holdings, making the stock its 26th biggest position. FSM Wealth Advisors LLC’s holdings in Alphabet were worth $3,181,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LaFleur & Godfrey LLC raised its holdings in Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider’s stock valued at $6,088,000 after acquiring an additional 380 shares during the last quarter. Brighton Jones LLC raised its holdings in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock valued at $22,901,000 after acquiring an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider’s stock valued at $96,465,000 after acquiring an additional 20,855 shares during the last quarter. Nixon Peabody Trust Co. raised its holdings in Alphabet by 0.7% in the 4th quarter. Nixon Peabody Trust Co. now owns 132,436 shares of the information services provider’s stock valued at $25,221,000 after acquiring an additional 966 shares during the last quarter. Finally, Onefund LLC raised its holdings in Alphabet by 3.0% in the 4th quarter. Onefund LLC now owns 12,977 shares of the information services provider’s stock valued at $2,471,000 after acquiring an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 1.6%

Shares of Alphabet stock opened at $179.76 on Thursday. The company has a fifty day moving average price of $169.27 and a 200 day moving average price of $175.84. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The stock has a market cap of $2.18 trillion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly 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. The firm had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.89 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOG shares. The Goldman Sachs Group restated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Citigroup restated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. UBS Group dropped their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and six have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $206.38.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares of the company’s stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 183,143 shares of company stock valued at $30,529,028 in the last ninety days. Insiders own 12.99% of the company’s stock.

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.