Triton Wealth Management PLLC Purchases 4,725 Shares of Alphabet Inc. $GOOG

Triton Wealth Management PLLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 80.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,614 shares of the information services provider’s stock after acquiring an additional 4,725 shares during the quarter. Alphabet makes up 1.2% of Triton Wealth Management PLLC’s portfolio, making the stock its 17th biggest position. Triton Wealth Management PLLC’s holdings in Alphabet were worth $3,138,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Granite Bay Wealth Management LLC grew its stake in Alphabet by 3.0% in the first quarter. Granite Bay Wealth Management LLC now owns 30,369 shares of the information services provider’s stock valued at $8,714,000 after acquiring an additional 897 shares during the period. Simplicity Wealth LLC raised its position in shares of Alphabet by 11.3% during the first quarter. Simplicity Wealth LLC now owns 32,812 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 3,340 shares during the period. Candriam S.C.A. raised its position in shares of Alphabet by 6.8% during the first quarter. Candriam S.C.A. now owns 859,128 shares of the information services provider’s stock worth $246,449,000 after purchasing an additional 54,474 shares during the period. Avid Wealth Partners LLC lifted its holdings in shares of Alphabet by 28.0% during the 1st quarter. Avid Wealth Partners LLC now owns 3,239 shares of the information services provider’s stock valued at $929,000 after purchasing an additional 708 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Alphabet by 18.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 753,267 shares of the information services provider’s stock valued at $216,082,000 after purchasing an additional 115,100 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.9%

NASDAQ GOOG opened at $357.33 on Wednesday. The stock has a market capitalization of $4.33 trillion, a price-to-earnings ratio of 27.26, a PEG ratio of 1.50 and a beta of 1.23. The stock’s 50 day moving average price is $368.65 and its two-hundred day moving average price is $335.92. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet Inc. has a 52 week low of $181.50 and a 52 week high of $404.47.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $2.43. The firm had revenue of $109.90 billion during the quarter, compared to the consensus estimate of $106.96 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.81 EPS. As a group, analysts anticipate that Alphabet Inc. will post 14.32 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 8th were given a $0.22 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s payout ratio is presently 6.71%.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a research note on Monday, April 20th. Citigroup reaffirmed a “market outperform” rating on shares of Alphabet in a research note on Monday, June 22nd. TD Cowen upped their price target on shares of Alphabet from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Wells Fargo & Company set a $416.00 price objective on shares of Alphabet in a research report on Thursday, July 2nd. Finally, Pivotal Research restated a “buy” rating and set a $470.00 price objective (up from $420.00) on shares of Alphabet in a report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $378.53.

View Our Latest Stock Report on Alphabet

Insider Buying and Selling at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the sale, the chief accounting officer owned 27,348 shares in the company, valued at $9,345,358.56. The trade was a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,415 shares of company stock valued at $7,672,279 in the last three months. 12.99% of the stock is currently owned by insiders.

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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