Destiny Wealth Partners LLC Acquires 926 Shares of Alphabet Inc. (NASDAQ:GOOG)

Destiny Wealth Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 11.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 8,949 shares of the information services provider’s stock after purchasing an additional 926 shares during the period. Destiny Wealth Partners LLC’s holdings in Alphabet were worth $1,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Veracity Capital LLC lifted its position in shares of Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after buying an additional 1,173 shares during the last quarter. Independence Bank of Kentucky raised its stake in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock worth $859,000 after acquiring an additional 1,230 shares in the last quarter. Strategic Blueprint LLC lifted its position in Alphabet by 36.7% during the fourth quarter. Strategic Blueprint LLC now owns 15,068 shares of the information services provider’s stock valued at $2,123,000 after acquiring an additional 4,044 shares during the last quarter. Investment Partners LTD. boosted its stake in Alphabet by 5.8% in the fourth quarter. Investment Partners LTD. now owns 7,446 shares of the information services provider’s stock valued at $1,049,000 after acquiring an additional 410 shares in the last quarter. Finally, Global Trust Asset Management LLC grew its holdings in Alphabet by 4.5% in the fourth quarter. Global Trust Asset Management LLC now owns 14,916 shares of the information services provider’s stock worth $2,102,000 after purchasing an additional 648 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

NASDAQ GOOG opened at $177.71 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock’s fifty day moving average price is $171.19 and its 200 day moving average price is $153.46. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $182.08. The company has a market cap of $2.20 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.31 and a beta of 1.01.

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

Alphabet Announces Dividend

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

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider John Kent Walker sold 12,084 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the sale, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,958 shares of company stock valued at $22,383,553. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Oppenheimer increased their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus target price of $165.67.

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.