Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Wealthstar Advisors LLC

Wealthstar Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOG) by 9.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,650 shares of the information services provider’s stock after acquiring an additional 220 shares during the quarter. Wealthstar Advisors LLC’s holdings in Alphabet were worth $403,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Kennedy Capital Management LLC increased its stake in Alphabet by 13.2% during the third quarter. Kennedy Capital Management LLC now owns 64,711 shares of the information services provider’s stock worth $8,532,000 after acquiring an additional 7,556 shares during the last quarter. Baker Avenue Asset Management LP increased its position in shares of Alphabet by 1.4% during the 3rd quarter. Baker Avenue Asset Management LP now owns 24,498 shares of the information services provider’s stock worth $3,230,000 after purchasing an additional 341 shares during the last quarter. Ramirez Asset Management Inc. purchased a new stake in Alphabet in the 3rd quarter valued at about $2,643,000. Holderness Investments Co. boosted its stake in Alphabet by 1.7% during the third quarter. Holderness Investments Co. now owns 18,480 shares of the information services provider’s stock worth $2,437,000 after buying an additional 300 shares during the period. Finally, Integrated Wealth Concepts LLC increased its position in shares of Alphabet by 0.8% during the third quarter. Integrated Wealth Concepts LLC now owns 188,294 shares of the information services provider’s stock valued at $24,827,000 after acquiring an additional 1,499 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Up 0.4 %

Shares of NASDAQ GOOG opened at $187.39 on Friday. The stock has a market cap of $2.32 trillion, a P/E ratio of 28.74, a PEG ratio of 1.41 and a beta of 1.05. The business’s fifty day simple moving average is $176.58 and its 200-day simple moving average is $157.00. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.62. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly 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. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter last year, the company earned $1.17 EPS. Alphabet’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared 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 is presently 12.27%.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOG. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research report on Friday, June 28th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer raised their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus boosted 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 analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. Insiders sold 146,288 shares of company stock valued at $25,345,053 in the last ninety days. Insiders own 12.99% of the company’s stock.

About Alphabet

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.