Financial Perspectives Inc Grows Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Financial Perspectives Inc raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,356 shares of the information services provider’s stock after buying an additional 591 shares during the period. Alphabet comprises approximately 1.6% of Financial Perspectives Inc’s investment portfolio, making the stock its 17th biggest position. Financial Perspectives Inc’s holdings in Alphabet were worth $4,165,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Partnership Wealth Management LLC purchased a new position in Alphabet in the 4th quarter worth about $26,000. Bruce G. Allen Investments LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new position in Alphabet in the fourth quarter worth approximately $34,000. Institutional investors own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. 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 quarter. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 0.4 %

Shares of NASDAQ:GOOG opened at $187.39 on Friday. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.62. The business’s fifty day simple moving average is $176.58 and its 200-day simple moving average is $157.00. The company has a market capitalization of $2.32 trillion, a PE ratio of 28.74, a P/E/G ratio of 1.41 and a beta of 1.05. 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 announced 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 business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period last year, the business posted $1.17 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, June 17th. Stockholders 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 dividend payout ratio is presently 12.27%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOG. Oppenheimer upped 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. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus raised their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target for the company. in a research report on Friday, June 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.86.

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.