BlueChip Wealth Advisors LLC Takes $535,000 Position in Alphabet Inc. (NASDAQ:GOOG)

BlueChip Wealth Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, HoldingsChannel reports. The fund acquired 3,796 shares of the information services provider’s stock, valued at approximately $535,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after buying an additional 9,703,425 shares during the period. Capital International Investors lifted its holdings in shares of Alphabet by 1.1% in the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock valued at $11,309,370,000 after buying an additional 862,550 shares during the period. Northern Trust Corp lifted its holdings in shares of Alphabet by 2.3% in the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after buying an additional 1,275,060 shares during the period. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at about $4,101,040,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphabet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after buying an additional 481,376 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the sale, the chief executive officer now directly owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider John Kent Walker sold 12,084 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The disclosure for this sale can be found here. In the last three months, insiders sold 158,458 shares of company stock worth $25,731,103. Corporate insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on GOOG. Oppenheimer upped their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet has an average rating of “Buy” and an average price target of $165.67.

Alphabet Price Performance

NASDAQ:GOOG traded up $0.41 during trading hours on Monday, hitting $178.78. 15,257,906 shares of the stock were exchanged, compared to its average volume of 21,240,090. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.08. The firm’s fifty day moving average price is $170.11 and its 200 day moving average price is $152.83. 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 $2.21 trillion, a P/E ratio of 27.42, a P/E/G ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period in the previous year, the business earned $1.17 EPS. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, equities research analysts anticipate that Alphabet Inc. will post 7.69 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 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.