Macroview Investment Management LLC Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Macroview Investment Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 12.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,766 shares of the information services provider’s stock after buying an additional 191 shares during the quarter. Macroview Investment Management LLC’s holdings in Alphabet were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GOOG. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider’s stock worth $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet during the first quarter worth $26,000. LSV Asset Management bought a new stake in shares of Alphabet during the fourth quarter worth $27,000. Goodman Advisory Group LLC bought a new stake in shares of Alphabet during the first quarter worth $32,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter worth $38,000. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on GOOG shares. Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Scotiabank decreased their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Cantor Fitzgerald restated a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. The Goldman Sachs Group restated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Finally, Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and six have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.38.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,643 shares of company stock worth $36,330,928. Insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG stock opened at $180.22 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.27 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock’s 50-day simple moving average is $169.97 and its 200-day simple moving average is $175.49.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. The company’s revenue was up 12.0% on a year-over-year basis. As a group, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is presently 9.36%.

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.