AMI Investment Management Inc. Buys 991 Shares of Alphabet Inc. (NASDAQ:GOOG)

AMI Investment Management Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,458 shares of the information services provider’s stock after purchasing an additional 991 shares during the period. Alphabet makes up 2.3% of AMI Investment Management Inc.’s investment portfolio, making the stock its 13th largest holding. AMI Investment Management Inc.’s holdings in Alphabet were worth $7,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Sterling Financial Planning Inc. grew its holdings in shares of Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider’s stock worth $370,000 after buying an additional 50 shares in the last quarter. Arlington Trust Co LLC boosted its position in Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider’s stock worth $2,747,000 after acquiring an additional 52 shares during the last quarter. Ethos Financial Group LLC boosted its position in Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider’s stock worth $1,395,000 after acquiring an additional 53 shares during the last quarter. Hutchinson Capital Management CA grew its stake in Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider’s stock valued at $677,000 after acquiring an additional 54 shares in the last quarter. Finally, Tempus Wealth Planning LLC raised its holdings in Alphabet by 1.7% in the 4th quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider’s stock valued at $636,000 after acquiring an additional 55 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer increased their price target on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Scotiabank lowered their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.88.

Alphabet Price Performance

Shares of GOOG opened at $169.81 on Friday. The firm has a 50-day simple moving average of $161.56 and a two-hundred day simple moving average of $176.09. The stock has a market cap of $2.06 trillion, a PE ratio of 21.09, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. 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 (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm 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 firm’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.89 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s payout ratio is presently 9.36%.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,770 shares of company stock valued at $32,036,638. 12.99% of the stock is currently owned by corporate insiders.

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.