Foguth Wealth Management LLC. Buys Shares of 1,796 Alphabet Inc. (NASDAQ:GOOGL)

Foguth Wealth Management LLC. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,796 shares of the information services provider’s stock, valued at approximately $271,000.

A number of other hedge funds have also made changes to their positions in GOOGL. PointState Capital LP acquired a new stake in shares of Alphabet in the third quarter valued at approximately $28,651,000. 3G Capital Partners LP increased its holdings in shares of Alphabet by 141.7% in the third quarter. 3G Capital Partners LP now owns 72,500 shares of the information services provider’s stock valued at $9,487,000 after purchasing an additional 42,500 shares during the last quarter. Karani Asset Management LLC increased its holdings in shares of Alphabet by 97.4% in the third quarter. Karani Asset Management LLC now owns 13,621 shares of the information services provider’s stock valued at $1,782,000 after purchasing an additional 6,720 shares during the last quarter. Dempze Nancy E increased its holdings in shares of Alphabet by 0.5% in the third quarter. Dempze Nancy E now owns 33,595 shares of the information services provider’s stock valued at $4,396,000 after purchasing an additional 165 shares during the last quarter. Finally, Northeast Financial Consultants Inc increased its stake in Alphabet by 1.9% during the third quarter. Northeast Financial Consultants Inc now owns 183,695 shares of the information services provider’s stock worth $24,038,000 after acquiring an additional 3,456 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,788 shares of company stock worth $21,143,403. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Susquehanna raised their target price on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research note on Monday, April 29th. Mizuho raised their target price on Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 target price (down previously from $182.00) on shares of Alphabet in a research note on Friday, June 28th. Loop Capital raised their target price on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, Oppenheimer raised their target price on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $193.66.

Alphabet Stock Up 1.2 %

GOOGL opened at $185.24 on Wednesday. The business’s 50-day simple moving average is $173.38 and its 200-day simple moving average is $154.80. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a one year low of $115.35 and a one year high of $186.05. The stock has a market capitalization of $2.29 trillion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 1.37 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the firm earned $1.17 earnings per share. Analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) 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.