Hardy Reed LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Hardy Reed LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,141 shares of the information services provider’s stock after purchasing an additional 200 shares during the quarter. Hardy Reed LLC’s holdings in Alphabet were worth $1,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GOOG. Bruce G. Allen Investments LLC bought a new position in Alphabet during the fourth quarter valued at $26,000. Partnership Wealth Management LLC bought a new position in Alphabet during the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new position in Alphabet during the 4th quarter valued at about $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet in the 4th quarter worth about $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Alphabet in the fourth quarter worth about $34,000. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.7 %

NASDAQ:GOOG traded up $1.34 during mid-day trading on Tuesday, reaching $191.82. The company’s stock had a trading volume of 1,663,983 shares, compared to its average volume of 20,790,227. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.37 trillion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 1 year low of $115.83 and a 1 year high of $192.85. The stock has a fifty day moving average of $177.40 and a 200-day moving average of $157.98.

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 for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business 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 company’s revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 earnings per share. Equities research analysts forecast 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. Shareholders of record on Monday, June 10th were paid 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%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOG shares. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a report on Friday, June 28th. Finally, Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $167.86.

Read Our Latest Stock Analysis on Alphabet

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the sale, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,288 shares of company stock valued at $25,345,053. 12.99% of the stock is owned by company insiders.

Alphabet Company Profile

(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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