Foguth Wealth Management LLC. Purchases New Stake in Alphabet Inc. (NASDAQ:GOOG)

Foguth Wealth Management LLC. purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 9,957 shares of the information services provider’s stock, valued at approximately $1,516,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOG. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. Capital International Investors lifted its holdings in shares of Alphabet by 1.1% in the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after buying an additional 862,550 shares in the last quarter. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth about $4,101,040,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphabet by 1.7% in the fourth 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 buying an additional 481,376 shares in the last quarter. Finally, Sanders Capital LLC lifted its holdings in shares of Alphabet by 2.9% in the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after buying an additional 813,428 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GOOG. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 target price 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 note on Tuesday, April 16th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday. Finally, Oppenheimer increased their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $167.86.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The stock was 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 owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at approximately $362,012,608.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,284 shares of company stock valued at $24,534,393. 12.99% of the stock is currently owned by company insiders.

Alphabet Trading Down 1.8 %

Shares of Alphabet stock traded down $3.44 on Friday, hitting $183.42. The stock had a trading volume of 23,032,362 shares, compared to its average volume of 17,822,788. 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 Inc. has a one year low of $115.83 and a one year high of $187.50. The stock has a market cap of $2.27 trillion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.38 and a beta of 1.01. The stock’s 50-day simple moving average is $174.40 and its two-hundred day simple moving average is $155.68.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

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

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.