Bourgeon Capital Management LLC Purchases 4,978 Shares of Alphabet Inc. (NASDAQ:GOOG)

Bourgeon Capital Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 68.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,246 shares of the information services provider’s stock after purchasing an additional 4,978 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Alphabet were worth $1,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fiduciary Alliance LLC raised its holdings in Alphabet by 1.4% during the 1st quarter. Fiduciary Alliance LLC now owns 4,867 shares of the information services provider’s stock worth $762,000 after purchasing an additional 67 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in Alphabet by 0.8% during the 1st quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,588 shares of the information services provider’s stock worth $1,308,000 after purchasing an additional 68 shares during the last quarter. Cranbrook Wealth Management LLC raised its holdings in Alphabet by 14.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after purchasing an additional 70 shares during the last quarter. Saratoga Research & Investment Management raised its holdings in Alphabet by 0.5% during the 1st quarter. Saratoga Research & Investment Management now owns 14,706 shares of the information services provider’s stock worth $2,239,000 after purchasing an additional 72 shares during the last quarter. Finally, Manchester Financial Inc. increased its stake in shares of Alphabet by 3.6% in the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOG opened at $187.39 on Friday. The company has a fifty day simple moving average of $175.99 and a 200 day simple moving average of $156.79. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $187.62. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.32 trillion, a P/E ratio of 28.74, a PEG ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly 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 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 the consensus estimate of $78.75 billion. During the same quarter last year, the firm posted $1.17 EPS. Alphabet’s revenue was up 15.4% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

GOOG has been the subject of several research analyst reports. Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research note on Friday, June 28th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $167.86.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction 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 of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction 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 of the company’s stock, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $186.74, for a total transaction of $4,201,650.00. Following the completion of the transaction, the chief executive officer now directly owns 2,227,385 shares in the company, valued at $415,941,874.90. The disclosure for this sale can be found here. Insiders have sold 146,288 shares of company stock valued at $25,345,053 in the last three months. 12.99% of the stock is currently owned by insiders.

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.