Berry Wealth Group LP Purchases New Position in Alphabet Inc. (NASDAQ:GOOG)

Berry Wealth Group LP purchased a new stake in Alphabet Inc. (NASDAQ:GOOG) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,291 shares of the information services provider’s stock, valued at approximately $202,000.

Other hedge funds have also recently bought and sold shares of the company. Principia Wealth Advisory LLC grew its holdings in shares of Alphabet by 111.8% in the 1st 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 last quarter. LSV Asset Management acquired a new position in Alphabet in the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOG. Susquehanna reissued a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a research note on Friday, May 2nd. Citigroup restated a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Westpark Capital reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares of the company’s stock, valued at $451,452,029.28. The trade was a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,070 shares of company stock worth $37,745,632. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOG opened at $167.74 on Wednesday. The company has a fifty day moving average price of $166.58 and a two-hundred day moving average price of $176.27. The firm has a market capitalization of $2.04 trillion, a PE ratio of 18.70, a P/E/G ratio of 1.17 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 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.

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

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.