Waterway Wealth Management LLC Buys Shares of 1,800 Alphabet Inc. (NASDAQ:GOOG)

Waterway Wealth Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,800 shares of the information services provider’s stock, valued at approximately $274,000.

Several other hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. Capital International Investors lifted its position in Alphabet by 1.1% during the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after purchasing an additional 862,550 shares during the last quarter. Norges Bank bought a new stake in Alphabet during the fourth quarter valued at approximately $4,101,040,000. Charles Schwab Investment Management Inc. lifted its position in Alphabet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after purchasing an additional 481,376 shares during the last quarter. Finally, Sanders Capital LLC lifted its position in Alphabet by 2.9% during the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after purchasing an additional 813,428 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now directly owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,026 shares of company stock valued at $24,026,243. 12.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOG. Oppenheimer lifted their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday. Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.86.

Alphabet Stock Down 1.8 %

Shares of NASDAQ GOOG opened at $183.42 on Monday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $187.50. The firm’s fifty day moving average is $174.40 and its 200 day moving average is $155.84. The company has a market cap of $2.27 trillion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.38 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping 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 the consensus estimate of $78.75 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is currently 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.