Litman Gregory Wealth Management LLC Has $11.07 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Litman Gregory Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,846 shares of the information services provider’s stock after buying an additional 4,111 shares during the period. Alphabet accounts for 0.9% of Litman Gregory Wealth Management LLC’s holdings, making the stock its 29th largest position. Litman Gregory Wealth Management LLC’s holdings in Alphabet were worth $11,068,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management bought a new stake in Alphabet during the fourth quarter valued at $27,000. Principia Wealth Advisory LLC raised its holdings 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 worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Alphabet in the 1st quarter worth about $26,000. WealthTrak Capital Management LLC purchased a new stake in Alphabet in the 4th quarter valued at about $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in Alphabet in the 4th quarter valued at about $39,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research analyst reports. Piper Sandler restated a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. UBS Group raised their price objective on shares of Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday. Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Susquehanna reiterated a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $208.40.

Insiders Place Their Bets

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 transaction, the director owned 6,813 shares of the company’s stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 in the company, valued at $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,343 shares of company stock valued at $31,296,140 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.4%

Shares of Alphabet stock opened at $183.77 on Thursday. The firm has a 50-day simple moving average of $172.81 and a two-hundred day simple moving average of $174.80. The company has a market cap of $2.23 trillion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 1.29 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. 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 issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm 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. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is a positive change 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%.

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.