Woodmont Investment Counsel LLC Acquires 567 Shares of Alphabet Inc. (NASDAQ:GOOG)

Woodmont Investment Counsel LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,308 shares of the information services provider’s stock after acquiring an additional 567 shares during the quarter. Alphabet accounts for about 0.9% of Woodmont Investment Counsel LLC’s investment portfolio, making the stock its 27th largest position. Woodmont Investment Counsel LLC’s holdings in Alphabet were worth $11,162,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GOOG. Financial Strategies Group Inc. increased its position in shares of Alphabet by 22.8% during the 1st quarter. Financial Strategies Group Inc. now owns 43,876 shares of the information services provider’s stock valued at $6,939,000 after purchasing an additional 8,156 shares during the last quarter. Exchange Capital Management Inc. increased its position in shares of Alphabet by 2.9% during the 1st quarter. Exchange Capital Management Inc. now owns 6,091 shares of the information services provider’s stock valued at $927,000 after purchasing an additional 170 shares during the last quarter. Deepwater Asset Management LLC increased its position in shares of Alphabet by 18.5% during the 1st quarter. Deepwater Asset Management LLC now owns 89,082 shares of the information services provider’s stock valued at $13,564,000 after purchasing an additional 13,927 shares during the last quarter. Westhampton Capital LLC increased its position in shares of Alphabet by 23.9% during the 1st quarter. Westhampton Capital LLC now owns 4,040 shares of the information services provider’s stock valued at $615,000 after purchasing an additional 780 shares during the last quarter. Finally, Cullinan Associates Inc. increased its position in shares of Alphabet by 8.4% during the 1st quarter. Cullinan Associates Inc. now owns 124,621 shares of the information services provider’s stock valued at $18,975,000 after purchasing an additional 9,612 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.1 %

NASDAQ GOOG opened at $186.61 on Wednesday. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a 50 day simple moving average of $174.93 and a two-hundred day simple moving average of $156.20. The stock has a market cap of $2.31 trillion, a P/E ratio of 28.62, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.17 EPS. On average, analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s payout ratio is presently 12.27%.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’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 completion of the transaction, the chief accounting officer now owns 30,650 shares of the company’s stock, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at approximately $1,655.91. The disclosure for this sale can be found here. Insiders sold a total of 123,788 shares of company stock worth $21,143,403 in the last quarter. 12.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GOOG shares. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a report on Friday, June 28th. Oppenheimer increased their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $167.86.

About Alphabet

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.