Boston Standard Wealth Management LLC Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Boston Standard Wealth Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 1,665 shares of the information services provider’s stock, valued at approximately $254,000.

Several other institutional investors also recently made changes to their positions in GOOG. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the fourth quarter valued at $26,000. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $32,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter worth approximately $34,000. 27.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on GOOG shares. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus boosted their price target on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Oppenheimer raised their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $165.67.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 12,084 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the transaction, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the sale, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the transaction, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,958 shares of company stock worth $22,383,553. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $180.26 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market cap of $2.23 trillion, a P/E ratio of 27.65, a PEG ratio of 1.33 and a beta of 1.01. The company has a fifty day moving average price of $171.61 and a 200 day moving average price of $153.96. Alphabet Inc. has a one year low of $115.83 and a one year high of $182.51.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating 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 business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter last year, the company earned $1.17 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. Analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Monday, June 17th. Stockholders 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 is presently 12.27%.

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.