Mayfair Advisory Group LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Mayfair Advisory Group LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,611 shares of the information services provider’s stock after buying an additional 401 shares during the quarter. Mayfair Advisory Group LLC’s holdings in Alphabet were worth $398,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Partnership Wealth Management LLC purchased a new position in Alphabet in the 4th quarter worth approximately $26,000. Bruce G. Allen Investments LLC bought a new position in Alphabet during the 4th quarter valued at about $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the fourth quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $32,000. Finally, Richardson Financial Services Inc. bought a new stake in Alphabet in the 4th quarter worth approximately $34,000. 27.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GOOG has been the subject of a number of research reports. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $167.86.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders sold 143,026 shares of company stock valued at $24,026,243 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOG opened at $183.42 on Monday. The stock has a market cap of $2.27 trillion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.38 and a beta of 1.05. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $187.50. The company’s 50 day moving average is $174.40 and its two-hundred day moving average is $155.84. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter last year, the company earned $1.17 EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, research analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

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