Abacus Wealth Partners LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Abacus Wealth Partners LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 31.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,246 shares of the information services provider’s stock after purchasing an additional 1,268 shares during the period. Abacus Wealth Partners LLC’s holdings in Alphabet were worth $799,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $26,000. Partnership Wealth Management LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Alphabet during the 4th quarter valued at approximately $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOG has been the topic of several research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus boosted their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer boosted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $165.67.

Alphabet Stock Up 0.7 %

Shares of GOOG traded up $1.26 during mid-day trading on Thursday, reaching $177.71. The company had a trading volume of 16,741,923 shares, compared to its average volume of 21,148,686. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a 50-day moving average price of $171.19 and a 200 day moving average price of $153.46. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $182.08. The company has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the business earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were 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 in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The disclosure for this sale can be found here. Insiders sold a total of 135,958 shares of company stock worth $22,383,553 in the last three months. 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.