Foguth Wealth Management LLC. Makes New Investment in Alphabet Inc. (NASDAQ:GOOG)

Foguth Wealth Management LLC. bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 9,957 shares of the information services provider’s stock, valued at approximately $1,516,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at about $4,101,040,000. JPMorgan Chase & Co. increased its stake in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the period. International Assets Investment Management LLC bought a new stake in Alphabet in the fourth quarter valued at about $11,600,970,000. Cerity Partners LLC increased its stake in Alphabet by 198.7% in the fourth quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock valued at $547,215,000 after acquiring an additional 2,583,128 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Alphabet by 93.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock valued at $647,064,000 after acquiring an additional 2,222,950 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, 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 completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,532,870.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 146,284 shares of company stock valued at $24,534,393 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

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

Alphabet Trading Down 1.8 %

NASDAQ GOOG traded down $3.44 during trading hours on Friday, hitting $183.42. The company’s stock had a trading volume of 23,032,362 shares, compared to its average volume of 17,822,788. The stock has a fifty day moving average of $174.40 and a 200 day moving average of $155.68. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $2.27 trillion, a P/E ratio of 28.13, a PEG ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a twelve month low of $115.83 and a twelve month high of $187.50.

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, topping 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 company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue was up 15.4% compared to the same quarter last year. Equities research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed 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 was Monday, June 10th. Alphabet’s dividend payout ratio is 12.27%.

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.