Dividend Assets Capital LLC Acquires 100 Shares of Alphabet Inc. (NASDAQ:GOOG)

Dividend Assets Capital LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,522 shares of the information services provider’s stock after purchasing an additional 100 shares during the quarter. Dividend Assets Capital LLC’s holdings in Alphabet were worth $394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Principia Wealth Advisory LLC lifted its position in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the period. LSV Asset Management acquired a new position in Alphabet during the fourth quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new position in Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet during the fourth quarter worth about $43,000. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several research analyst reports. Citigroup reissued a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Needham & Company LLC downgraded Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. JPMorgan Chase & Co. boosted their target price on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Finally, Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $204.88.

Alphabet Stock Performance

Alphabet stock opened at $180.01 on Wednesday. The company has a market capitalization of $2.18 trillion, a P/E ratio of 22.36, a P/E/G ratio of 1.34 and a beta of 1.01. The business has a 50 day moving average of $162.80 and a 200-day moving average of $176.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.89 EPS. On average, equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is currently owned by company insiders.

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.