Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by Rehmann Capital Advisory Group

10 Jul 2024, 20:02 by Tristan Rich · The Markets Daily

Rehmann Capital Advisory Group lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,919 shares of the information services provider’s stock after purchasing an additional 523 shares during the period. Rehmann Capital Advisory Group’s holdings in Alphabet were worth $8,058,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Woodward Diversified Capital LLC lifted its stake in Alphabet by 0.7% in the first quarter. Woodward Diversified Capital LLC now owns 8,609 shares of the information services provider’s stock worth $1,311,000 after acquiring an additional 62 shares during the last quarter. Intergy Private Wealth LLC lifted its stake in Alphabet by 1.9% in the first quarter. Intergy Private Wealth LLC now owns 3,393 shares of the information services provider’s stock worth $517,000 after acquiring an additional 63 shares during the last quarter. Smith Anglin Financial LLC lifted its stake in Alphabet by 2.0% in the first quarter. Smith Anglin Financial LLC now owns 3,223 shares of the information services provider’s stock worth $491,000 after acquiring an additional 64 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in Alphabet by 1.4% in the first quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock worth $762,000 after acquiring an additional 67 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in Alphabet by 0.8% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. TD Cowen boosted their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday. Oppenheimer boosted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $174.38.

View Our Latest Analysis on Alphabet

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold 146,288 shares of company stock worth $25,345,053 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG traded up $2.28 during trading hours on Wednesday, reaching $192.72. The company’s stock had a trading volume of 6,059,521 shares, compared to its average volume of 20,743,129. The stock has a market cap of $2.38 trillion, a PE ratio of 29.59, a PEG ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $192.98. The company’s 50-day moving average is $177.92 and its two-hundred day moving average is $158.32. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results 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. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were given 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 12.27%.

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