Foguth Wealth Management LLC. Makes New $271,000 Investment in Alphabet Inc. (NASDAQ:GOOGL)

Foguth Wealth Management LLC. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 1,796 shares of the information services provider’s stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $38,000. Armor Investment Advisors LLC grew its holdings in shares of Alphabet by 31.0% during the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares in the last quarter. IAG Wealth Partners LLC grew its holdings in shares of Alphabet by 55.9% during the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $55,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at $5,623,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock valued at $21,143,403 over the last quarter. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on GOOGL. Wedbush boosted their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Evercore ISI lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a research note on Tuesday, June 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $193.66.

Alphabet Stock Performance

NASDAQ GOOGL opened at $185.24 on Wednesday. The stock has a market cap of $2.29 trillion, a P/E ratio of 28.41, a PEG ratio of 1.37 and a beta of 1.05. The company’s 50-day simple moving average is $173.38 and its 200 day simple moving average is $154.80. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $186.05. 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:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the firm posted $1.17 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. Alphabet’s payout ratio is currently 12.27%.

Alphabet 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.