Alphabet Inc. (NASDAQ:GOOG) Stock Position Increased by Monterey Private Wealth Inc.

Monterey Private Wealth Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,573 shares of the information services provider’s stock after purchasing an additional 115 shares during the quarter. Alphabet comprises 0.6% of Monterey Private Wealth Inc.’s holdings, making the stock its 27th biggest position. Monterey Private Wealth Inc.’s holdings in Alphabet were worth $1,610,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GOOG. Norges Bank bought a new stake in Alphabet in the 4th quarter valued at about $4,101,040,000. JPMorgan Chase & Co. increased its stake in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after buying an additional 9,703,425 shares during the period. International Assets Investment Management LLC acquired a new position in Alphabet during the 4th quarter valued at about $11,600,970,000. Cerity Partners LLC increased its stake in Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after buying an additional 2,583,128 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Alphabet by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after buying an additional 2,222,950 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the sale, the director now directly owns 3,727 shares in the company, valued at $663,107.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at $394,746,532.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total transaction of $266,880.00. Following the completion of the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The disclosure for this sale can be found here. Insiders sold 135,958 shares of company stock worth $22,383,553 over the last ninety days. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on GOOG. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Finally, Oppenheimer raised their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $165.67.

Alphabet Stock Performance

GOOG stock opened at $177.71 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $2.20 trillion, a P/E ratio of 27.26, a P/E/G ratio of 1.31 and a beta of 1.01. The firm has a 50 day simple moving average of $171.19 and a 200 day simple moving average of $153.46. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $182.08.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 earnings per share. Research analysts anticipate that Alphabet Inc. will post 7.69 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.