Rehmann Capital Advisory Group Has $8.06 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Rehmann Capital Advisory Group grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.0% in the first quarter, Holdings Channel reports. The institutional investor owned 52,919 shares of the information services provider’s stock after purchasing an additional 523 shares during the period. Rehmann Capital Advisory Group’s holdings in Alphabet were worth $8,058,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new stake in Alphabet in the fourth quarter valued at about $26,000. Partnership Wealth Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Alphabet in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock traded up $2.28 during midday trading on Wednesday, hitting $192.72. 6,059,521 shares of the company traded hands, compared to its average volume of 20,743,129. Alphabet Inc. has a 12 month low of $115.83 and a 12 month high of $192.98. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $2.38 trillion, a price-to-earnings ratio of 29.59, a PEG ratio of 1.43 and a beta of 1.05. The firm’s fifty day moving average price is $177.92 and its 200-day moving average price is $158.32.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the previous year, the company earned $1.17 EPS. Alphabet’s quarterly revenue was up 15.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a — dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the completion of the transaction, the chief executive officer now owns 2,227,385 shares of the company’s stock, valued at approximately $415,941,874.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 146,288 shares of company stock worth $25,345,053. 12.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer increased their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.38.

Alphabet Profile

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.