Alphabet Inc. (NASDAQ:GOOG) Stock Position Raised by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 50.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 330 shares of the information services provider’s stock after purchasing an additional 110 shares during the period. Hillsdale Investment Management Inc.’s holdings in Alphabet were worth $50,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Partnership Wealth Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth approximately $26,000. Equitec Proprietary Markets LLC purchased a new position in Alphabet during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the 4th quarter valued at $32,000. Richardson Financial Services Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at $34,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter worth $34,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 2.2 %

Shares of GOOG traded up $3.96 during mid-day trading on Monday, hitting $183.35. 16,274,361 shares of the company’s stock were exchanged, compared to its average volume of 20,464,766. The stock has a market cap of $2.27 trillion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 1.35 and a beta of 1.05. The firm has a fifty day moving average of $180.62 and a two-hundred day moving average of $161.11. 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 twelve month low of $121.38 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted 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. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The business’s quarterly revenue was up 15.4% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Oppenheimer upped their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus boosted their price objective 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. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research report on Friday, June 28th. Finally, TD Cowen boosted their price target on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. 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 stock. According to MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus price target of $174.38.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now directly owns 2,204,885 shares of the company’s stock, valued at approximately $403,141,173.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. Insiders have sold a total of 146,988 shares of company stock valued at $26,068,355 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

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.