Claro Advisors LLC Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Claro Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,102 shares of the information services provider’s stock after buying an additional 1,500 shares during the quarter. Alphabet accounts for 0.8% of Claro Advisors LLC’s investment portfolio, making the stock its 23rd largest holding. Claro Advisors LLC’s holdings in Alphabet were worth $4,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $26,000. Partnership Wealth Management LLC bought a new position in shares of Alphabet during the 4th quarter worth about $26,000. Equitec Proprietary Markets LLC bought a new stake in Alphabet during the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the 4th quarter valued at about $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent research reports. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research report on Friday. Oppenheimer increased their price objective 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 boosted their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.86.

Alphabet Stock Performance

GOOG opened at $184.49 on Tuesday. The firm’s fifty day simple moving average is $174.40 and its two-hundred day simple moving average is $155.84. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $187.50. The company has a market cap of $2.28 trillion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.38 and a beta of 1.05. 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 issued its quarterly earnings data 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 net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the firm earned $1.17 EPS. Alphabet’s revenue was up 15.4% on a year-over-year basis. Equities analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced 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 (DPR) is presently 12.27%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders sold a total of 142,344 shares of company stock valued at $23,920,676 over the last ninety days. Insiders own 12.99% of the company’s stock.

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.