Rehmann Capital Advisory Group Buys 4,575 Shares of Alphabet Inc. (NASDAQ:GOOG)

Rehmann Capital Advisory Group boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,373 shares of the information services provider’s stock after buying an additional 4,575 shares during the period. Rehmann Capital Advisory Group’s holdings in Alphabet were worth $10,545,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter worth about $27,000. LSV Asset Management purchased a new position in shares of Alphabet during the fourth quarter worth about $27,000. WealthTrak Capital Management LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet during the fourth quarter worth about $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet during the fourth quarter worth about $43,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. This represents a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the transaction, the chief executive officer now owns 2,685,196 shares of the company’s stock, valued at approximately $419,320,207.36. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,163 shares of company stock worth $25,361,647. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $162.06 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.98 trillion, a PE ratio of 20.13, a P/E/G ratio of 1.34 and a beta of 1.04. The business has a 50 day moving average of $163.26 and a 200 day moving average of $177.23. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.89 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. Alphabet’s dividend payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on GOOG shares. Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. UBS Group cut their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. upped their target price on Alphabet from $180.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $203.94.

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.