Chemistry Wealth Management LLC Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Chemistry Wealth Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,602 shares of the information services provider’s stock after purchasing an additional 387 shares during the period. Alphabet comprises 4.2% of Chemistry Wealth Management LLC’s holdings, making the stock its 4th biggest holding. Chemistry Wealth Management LLC’s holdings in Alphabet were worth $15,622,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOG. JPMorgan Chase & Co. grew its stake in Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares in the last quarter. Capital International Investors grew its stake in Alphabet by 1.1% in the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after acquiring an additional 862,550 shares in the last quarter. Norges Bank bought a new position in Alphabet in the 4th quarter worth about $4,101,040,000. Charles Schwab Investment Management Inc. grew its stake in Alphabet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock worth $4,058,842,000 after acquiring an additional 481,376 shares in the last quarter. Finally, Sanders Capital LLC grew its stake in Alphabet by 2.9% in the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after acquiring an additional 813,428 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

Shares of NASDAQ:GOOG traded down $0.21 during midday trading on Wednesday, reaching $185.37. The company’s stock had a trading volume of 13,366,791 shares, compared to its average volume of 21,367,336. The firm has a market capitalization of $2.29 trillion, a PE ratio of 28.45, a P/E/G ratio of 1.39 and a beta of 1.01. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $185.93. The stock has a fifty day moving average of $172.69 and a 200 day moving average of $154.76. 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 (NASDAQ:GOOG) last released 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. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the sale, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,374 shares of company stock worth $24,548,073. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GOOG shares. Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Finally, Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $165.67.

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.