John G Ullman & Associates Inc. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

John G Ullman & Associates Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 11.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,735 shares of the information services provider’s stock after buying an additional 185 shares during the period. John G Ullman & Associates Inc.’s holdings in Alphabet were worth $264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $26,000. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $26,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $28,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $34,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of NASDAQ GOOG traded down $0.38 during midday trading on Friday, reaching $186.92. 2,872,421 shares of the company were exchanged, compared to its average volume of 20,618,479. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1 year low of $118.68 and a 1 year high of $193.31. The stock has a fifty day simple moving average of $178.83 and a 200 day simple moving average of $158.76. The stock has a market cap of $2.31 trillion, a P/E ratio of 28.69, a PEG ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $78.75 billion. During the same quarter in the previous year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, research analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,488 shares of company stock valued at $25,217,405. 12.99% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.