Barnes Dennig Private Wealth Management LLC Acquires New Shares in Alphabet Inc. (NASDAQ:GOOG)

Barnes Dennig Private Wealth Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 503 shares of the information services provider’s stock, valued at approximately $79,000.

Other large investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% in 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. MorganRosel Wealth Management LLC bought a new stake in Alphabet during the first quarter valued at $26,000. LSV Asset Management purchased a new position in Alphabet during the fourth quarter worth about $27,000. Goodman Advisory Group LLC bought a new position in Alphabet in the 1st quarter worth about $32,000. Finally, WealthTrak Capital Management LLC bought a new position in Alphabet in the 4th quarter worth about $38,000. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company’s stock, valued at $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,143 shares of company stock valued at $30,529,028. Insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the subject of a number of research analyst reports. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, June 26th. UBS Group dropped their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a research note on Friday, May 2nd. Scotiabank lowered their price objective on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 21st. Finally, Westpark Capital reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and six have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.38.

Alphabet Stock Performance

Shares of GOOG stock opened at $176.91 on Wednesday. The company has a market capitalization of $2.15 trillion, a P/E ratio of 19.72, a PEG ratio of 1.25 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a 50 day moving average price of $168.84 and a two-hundred day moving average price of $175.81.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is presently 9.36%.

Alphabet 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.