Alphabet Inc. (NASDAQ:GOOG) Shares Bought by BigSur Wealth Management LLC

BigSur Wealth Management LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,630 shares of the information services provider’s stock after purchasing an additional 3,000 shares during the quarter. Alphabet makes up about 1.3% of BigSur Wealth Management LLC’s holdings, making the stock its 18th biggest position. BigSur Wealth Management LLC’s holdings in Alphabet were worth $4,785,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ARQ Wealth Advisors LLC increased its holdings in shares of Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after acquiring an additional 1,400 shares during the period. Independence Bank of Kentucky increased its stake in Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after buying an additional 1,376 shares during the period. Harvest Investment Services LLC increased its stake in Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock valued at $824,000 after buying an additional 138 shares during the period. North Forty Two & Co. acquired a new position in Alphabet in the 4th quarter valued at $281,000. Finally, Fermata Advisors LLC increased its stake in Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock valued at $1,527,000 after buying an additional 259 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Down 0.6%

GOOG opened at $175.88 on Friday. The firm has a 50 day moving average price of $164.57 and a 200 day moving average price of $176.30. The company has a market cap of $2.13 trillion, a PE ratio of 21.85, a price-to-earnings-growth 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 quick ratio of 1.84 and a current 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 (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. Sell-side 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 will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

Several brokerages have issued reports on GOOG. Scotiabank dropped 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 note on Monday, April 21st. Rosenblatt Securities upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. Westpark Capital restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. UBS Group decreased their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, Citigroup restated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.88.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the transaction, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their position. The transaction was disclosed in a filing 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 value of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock valued at $32,003,532 over the last 90 days. 12.99% of the stock is 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.