Alphabet Inc. (NASDAQ:GOOG) Stake Boosted by Financial & Tax Architects LLC

Financial & Tax Architects LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 35.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,120 shares of the information services provider’s stock after purchasing an additional 1,869 shares during the quarter. Financial & Tax Architects LLC’s holdings in Alphabet were worth $1,084,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Bleakley Financial Group LLC grew its holdings in shares of Alphabet by 3.0% during the first quarter. Bleakley Financial Group LLC now owns 167,091 shares of the information services provider’s stock valued at $25,441,000 after purchasing an additional 4,941 shares during the last quarter. Heritage Wealth Advisors grew its holdings in shares of Alphabet by 7.9% during the first quarter. Heritage Wealth Advisors now owns 319,897 shares of the information services provider’s stock valued at $48,707,000 after purchasing an additional 23,306 shares during the last quarter. Focused Wealth Management Inc grew its holdings in shares of Alphabet by 3.6% during the first quarter. Focused Wealth Management Inc now owns 8,234 shares of the information services provider’s stock valued at $1,254,000 after purchasing an additional 289 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Alphabet by 16.7% during the first quarter. ProShare Advisors LLC now owns 2,779,326 shares of the information services provider’s stock valued at $423,180,000 after purchasing an additional 398,582 shares during the last quarter. Finally, Addison Capital Co boosted its position in shares of Alphabet by 53.0% during the first quarter. Addison Capital Co now owns 2,709 shares of the information services provider’s stock worth $412,000 after buying an additional 938 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold a total of 124,488 shares of company stock valued at $21,954,455 over the last quarter. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG traded down $2.88 during trading hours on Wednesday, hitting $182.62. 17,198,594 shares of the company were exchanged, compared to its average volume of 20,562,801. The company has a market capitalization of $2.26 trillion, a PE ratio of 28.03, a PEG ratio of 1.41 and a beta of 1.05. The firm has a fifty day simple moving average of $179.81 and a 200-day simple moving average of $159.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a one year low of $118.68 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

GOOG has been the subject of several analyst reports. Stifel Nicolaus boosted their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $174.38.

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.