Benin Management CORP Acquires 6,826 Shares of Alphabet Inc. (NASDAQ:GOOG)

Benin Management CORP grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 43.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,477 shares of the information services provider’s stock after buying an additional 6,826 shares during the quarter. Alphabet makes up 1.1% of Benin Management CORP’s portfolio, making the stock its 15th largest position. Benin Management CORP’s holdings in Alphabet were worth $3,422,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOG. RMR Wealth Builders raised its stake in shares of Alphabet by 11.0% during the 1st quarter. RMR Wealth Builders now owns 20,033 shares of the information services provider’s stock worth $3,050,000 after purchasing an additional 1,988 shares in the last quarter. Elevated Capital Advisors LLC raised its position in Alphabet by 4.0% during the first quarter. Elevated Capital Advisors LLC now owns 15,470 shares of the information services provider’s stock worth $2,355,000 after acquiring an additional 589 shares in the last quarter. Ehrlich Financial Group acquired a new stake in Alphabet in the first quarter valued at $202,000. Chemistry Wealth Management LLC grew its position in shares of Alphabet by 0.4% in the 1st quarter. Chemistry Wealth Management LLC now owns 102,602 shares of the information services provider’s stock valued at $15,622,000 after acquiring an additional 387 shares during the period. Finally, Lpwm LLC increased its stake in shares of Alphabet by 3.4% during the 1st quarter. Lpwm LLC now owns 3,084 shares of the information services provider’s stock worth $486,000 after purchasing an additional 100 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $186.86 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 firm has a market cap of $2.31 trillion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.39 and a beta of 1.01. The stock’s fifty day moving average price is $173.26 and its two-hundred day moving average price is $154.97. Alphabet Inc. has a one year low of $115.83 and a one year high of $187.50.

Alphabet (NASDAQ:GOOG) last released 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 business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the company posted $1.17 earnings per share. Alphabet’s revenue was up 15.4% compared to the same quarter last year. On average, equities analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,284 shares of company stock worth $24,534,393. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus target price of $165.67.

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.