Alphabet Inc. (NASDAQ:GOOG) Shares Bought by New Insight Wealth Advisors

New Insight Wealth Advisors lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,361 shares of the information services provider’s stock after buying an additional 539 shares during the period. New Insight Wealth Advisors’ holdings in Alphabet were worth $525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% during 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. MorganRosel Wealth Management LLC acquired a new stake in Alphabet in the 1st quarter valued at $26,000. LSV Asset Management purchased a new position in Alphabet in the fourth quarter valued at about $27,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the first quarter valued at about $32,000. Finally, WealthTrak Capital Management LLC purchased a new position in Alphabet in the fourth quarter valued at about $38,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.4%

NASDAQ:GOOG opened at $175.16 on Wednesday. The company has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock has a 50-day simple moving average of $170.54 and a 200 day simple moving average of $175.29. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

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. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $1.89 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of Alphabet 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 $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer owned 2,620,196 shares of the company’s stock, valued at approximately $447,712,890.52. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,643 shares of company stock worth $36,330,928. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Citigroup reissued a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Susquehanna reissued a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, BNP Paribas lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and six have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $206.38.

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.