Barnes Wealth Management Group Inc Purchases 280 Shares of Alphabet Inc. $GOOG

Barnes Wealth Management Group Inc lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,842 shares of the information services provider’s stock after buying an additional 280 shares during the quarter. Barnes Wealth Management Group Inc’s holdings in Alphabet were worth $444,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JDM Financial Group LLC raised its stake in Alphabet by 10.6% during the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider’s stock valued at $113,000 after acquiring an additional 57 shares during the last quarter. Objectivity Squared LLC raised its stake in shares of Alphabet by 0.4% during the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider’s stock worth $2,605,000 after buying an additional 62 shares in the last quarter. Tranquility Partners LLC raised its stake in shares of Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider’s stock worth $2,263,000 after buying an additional 63 shares in the last quarter. Stonebridge Financial Group LLC raised its stake in shares of Alphabet by 0.6% during the 1st quarter. Stonebridge Financial Group LLC now owns 10,648 shares of the information services provider’s stock worth $1,664,000 after buying an additional 64 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in shares of Alphabet by 28.5% during the 4th quarter. True Wealth Design LLC now owns 293 shares of the information services provider’s stock worth $56,000 after buying an additional 65 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,719 shares of company stock worth $47,223,172. 12.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOG has been the subject of several research analyst reports. Lake Street Capital reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $235.00 price objective (up from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Westpark Capital reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, Pivotal Research increased their target price on Alphabet from $225.00 to $245.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Five analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.19.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $200.62 on Friday. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The business’s fifty day moving average price is $187.09 and its two-hundred day moving average price is $174.87. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market cap of $2.43 trillion, a PE ratio of 21.37, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. During the same quarter last year, the firm earned $1.89 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. On average, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet’s dividend payout ratio is 8.95%.

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.