Ehrlich Financial Group Buys Shares of 1,327 Alphabet Inc. (NASDAQ:GOOG)

Ehrlich Financial Group purchased a new position in Alphabet Inc. (NASDAQ:GOOG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,327 shares of the information services provider’s stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Mather Group LLC. increased its stake in shares of Alphabet by 16.6% in the third quarter. Mather Group LLC. now owns 35,838 shares of the information services provider’s stock valued at $4,725,000 after purchasing an additional 5,115 shares during the period. Valley National Advisers Inc. increased its position in Alphabet by 3.4% in the 3rd quarter. Valley National Advisers Inc. now owns 4,601 shares of the information services provider’s stock valued at $607,000 after acquiring an additional 151 shares during the period. Trexquant Investment LP raised its stake in Alphabet by 61.7% during the 3rd quarter. Trexquant Investment LP now owns 57,619 shares of the information services provider’s stock valued at $7,597,000 after acquiring an additional 21,989 shares in the last quarter. Rench Wealth Management Inc. boosted its position in Alphabet by 1.0% during the 3rd quarter. Rench Wealth Management Inc. now owns 46,069 shares of the information services provider’s stock worth $6,074,000 after acquiring an additional 461 shares during the period. Finally, Private Advisory Group LLC grew its stake in shares of Alphabet by 4.6% in the third quarter. Private Advisory Group LLC now owns 150,987 shares of the information services provider’s stock worth $19,908,000 after purchasing an additional 6,642 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 0.8 %

Shares of NASDAQ GOOG opened at $186.86 on Friday. 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 Inc. has a 12 month low of $115.83 and a 12 month high of $187.50. The company has a market cap of $2.31 trillion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.39 and a beta of 1.01. The business has a fifty day simple moving average of $173.26 and a 200-day simple moving average of $154.97.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion for 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%. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at $392,588,151.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,213,011 shares in the company, valued at $392,588,151.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock worth $24,534,393 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on GOOG. Stifel Nicolaus upped their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet currently has an average rating of “Buy” and an average price target 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.