Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Apollon Financial LLC
by Sarita Garza · The Markets DailyApollon Financial LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 66,864 shares of the information services provider’s stock after acquiring an additional 558 shares during the period. Alphabet makes up about 2.5% of Apollon Financial LLC’s portfolio, making the stock its 9th biggest position. Apollon Financial LLC’s holdings in Alphabet were worth $10,446,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. LSV Asset Management purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $27,000. Principia Wealth Advisory LLC increased its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of Alphabet during the 1st quarter valued at approximately $26,000. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $38,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet during the 4th quarter valued at approximately $39,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 215,443 shares of company stock valued at $36,298,548. 12.99% of the stock is currently owned by insiders.
Alphabet Trading Up 1.5%
Shares of GOOG stock opened at $181.31 on Monday. The company’s 50-day moving average price is $171.50 and its 200-day moving average price is $174.76. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.20 trillion, a price-to-earnings ratio of 20.21, a PEG ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. 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 annualized dividend and a dividend yield of 0.46%. Alphabet’s payout ratio is presently 9.36%.
Analysts Set New Price Targets
Several research firms have recently weighed in on GOOG. Barclays reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday. Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Tigress Financial reissued a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Needham & Company LLC lowered shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Finally, Susquehanna reissued a “positive” rating on shares of Alphabet in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and six have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $207.13.
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.
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