Alliance Wealth Management Group Buys 1,890 Shares of Alphabet Inc. (NASDAQ:GOOG)

Alliance Wealth Management Group increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 93.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,910 shares of the information services provider’s stock after purchasing an additional 1,890 shares during the quarter. Alliance Wealth Management Group’s holdings in Alphabet were worth $595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the fourth quarter worth $26,000. Partnership Wealth Management LLC purchased a new stake in Alphabet in the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new position in Alphabet in the 4th quarter worth about $28,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus increased 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. Oppenheimer boosted their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. 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, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.86.

View Our Latest Report on Alphabet

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at approximately $415,941,874.90. The disclosure for this sale can be found here. Insiders have sold 146,288 shares of company stock worth $25,345,053 over the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG traded down $0.94 on Monday, hitting $191.02. The company had a trading volume of 4,417,348 shares, compared to its average volume of 20,877,543. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market capitalization of $2.36 trillion, a PE ratio of 29.15, a PEG ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $192.26. The company’s fifty day moving average price is $176.95 and its 200-day moving average price is $157.64.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) 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 return on equity of 29.52% and a net margin of 25.90%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. As a group, analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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 payout ratio is currently 12.27%.

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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