Advance Capital Management Inc. Acquires 2,330 Shares of Alphabet Inc. (NASDAQ:GOOG)

Advance Capital Management Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 58.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,299 shares of the information services provider’s stock after purchasing an additional 2,330 shares during the period. Advance Capital Management Inc.’s holdings in Alphabet were worth $959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. Capital International Investors lifted its stake in shares of Alphabet by 1.1% in the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after acquiring an additional 862,550 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after acquiring an additional 1,275,060 shares during the last quarter. Norges Bank bought a new position in shares of Alphabet in the 4th quarter valued at $4,101,040,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Alphabet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after acquiring an additional 481,376 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOG opened at $176.45 on Thursday. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $182.08. The stock has a fifty day simple moving average of $170.85 and a 200 day simple moving average of $153.29. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 7.69 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the sale, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders sold 135,958 shares of company stock worth $22,383,553 over the last three months. Company insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOG. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $165.67.

Alphabet Company 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.